Chainlink co-founder and CEO Sergey Nazarov said at the first meeting of the US Commodity Futures Trading Commission’s Innovation Advisory Committee on Aug. 21 that cooperation between the CFTC and the US Securities and Exchange Commission has finally turned efficient and constructive, replacing the public clashes seen before. He said that shift has already improved the reputation and trust of US financial markets and could help build a unified regulatory vision instead of conflicting rules that hold back innovation. Nazarov argued that fragmented regulation has come at a high cost. He said Chainlink provides data and cross-chain infrastructure for thousands of applications and supports much of the DeFi ecosystem, while regulatory uncertainty over the past seven years pushed hundreds of developers to leave the US, stop building high-quality applications there, and stop serving US consumers. He added that equity tokenization is the next clear trend and will unlock substantial on-chain value. With the US stock market accounting for about 60% of global equity market value and flow, he said the US must move on-chain at the same pace or faster if the global financial system accelerates in that direction, or risk losing innovation and market leadership.
On Aug. 21, Chainlink co-founder and CEO Sergey Nazarov said at the first meeting of the US Commodity Futures Trading Commission’s Innovation Advisory Committee that he appreciated the fact that the CFTC and the US Securities and Exchange Commission had finally begun working together in an efficient and constructive way, rather than publicly clashing as they had before.
Nazarov said that change alone had already materially improved the reputation and trust of US financial markets. He added that it could also help create a unified regulatory vision and prevent innovation from being blocked by multiple conflicting rules.
He said regulatory fragmentation had already imposed a serious cost. According to Nazarov, Chainlink provides data, cross-chain, and other infrastructure for thousands of applications and supports much of the DeFi ecosystem. Over the past seven years, he said he had personally seen hundreds of developers choose to leave the United States because of uncertainty, stop building high-quality applications in the country, and stop serving US consumers, which he described as a major loss for the US financial system and for consumers.
Nazarov also said the next trend was clear: equity tokenization would unlock a large amount of on-chain value. The US stock market currently represents about 60% of global equity market value and flow, he said. If the global financial system moves on-chain faster, the United States will need to move at the same pace or even faster to preserve that position, or risk losing innovation and market advantage.
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