Peter Schiff: SEC Loosening Tokenized Stock Regulation Is Bearish for Bitcoin

Odaily News: Longtime Bitcoin critic Peter Schiff posted that Bitcoin's rise following the U.S. SEC's announcement of an innovation exemption related to tokenized stocks "makes no sense," arguing that the policy is actually bearish for Bitcoin because Bitcoin will need to compete with tokenized securities in the future.

Schiff believes that tokenized stocks backed by assets of profitable companies capable of paying dividends also offer the trading convenience of digital assets while carrying corresponding equity rights, and therefore he argues that such assets are superior to Bitcoin as a store of value.