Peter Schiff: SEC's Relaxation of Tokenized Stock Regulation Is Bearish for Bitcoin

Odaily News: Long-time Bitcoin critic Peter Schiff posted that Bitcoin's rise after the U.S. SEC announced innovation exemptions related to tokenized stocks is "meaningless," 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 considers such assets to have advantages over Bitcoin as a store of value.