Former New York Governor Andrew Cuomo said that the pace of tokenization's development is faster than the speed at which regulations are being prepared in the United States. In an op-ed for CoinDesk, he emphasized, "Tokenization is developing faster than regulation, and regulatory clarity is not merely a legal or political issue, but an economic one. The focus of the debate is no longer whether blockchain technology can someday enter traditional capital markets. The important questions now are how existing markets will embrace blockchain technology, and what rules will govern that transition." He added, "The U.S. Securities and Exchange Commission's (SEC) Innovation Exemption allows for innovation within defined safeguards, observing how technology works, and then using that experience to develop future rules. However, ultimately, innovation and regulation must evolve together. Jurisdictions that establish trustworthy and predictable regulatory frameworks are advantageous in attracting investment, talent, and financial infrastructure. Conversely, where uncertainty persists, there is a risk that relevant standards and ultimately the market itself will form in other regions."
