Plume's general counsel testified before the U.S. House of Representatives, calling for the inclusion of tokenized securities within the existing regulatory framework.
PANews reported on March 26 that, according to the official blog, Salman Banaei, General Counsel of Plume Network, stated at a hearing of the U.S. House Financial Services Committee that tokenized securities should not be considered a completely new asset class, nor should they require entirely new rules or exemptions. He argued that regulation should be driven by the economic nature and risks of financial products, rather than the technology they use, and therefore, new technologies should be incorporated into a mature regulatory framework through targeted revisions to existing regulations.
Salman points out that leveraging public blockchains and on-chain compliance tools (such as Plume's built-in protocol-level anti-money laundering screening) can significantly improve market transparency, reduce costs, and decrease reliance on intermediaries while maintaining or even exceeding existing regulatory standards. Finally, Salman warns that competition in global tokenization infrastructure is accelerating, with regions like Hong Kong, Singapore, and the UAE actively deploying resources. If the US lags behind in regulation due to policy uncertainty, it risks losing its leadership position in the digital transformation of global capital markets, allowing this strategic opportunity to flow to foreign competitors with differing geopolitical objectives.
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