Plume, a blockchain platform focusing on real-world assets (RWAs), is celebrating its contribution to the President’s Working Group on Digital Asset Markets report. The report highlights Plume’s insights on tokenizing real-world assets.
Plume’s Policy Recommendations
Recently, Plume released policy recommendations advocating for capital markets regulations that keep pace with stablecoin innovation. The White House report seems to echo this vision, emphasizing the importance of permissionless blockchain technology, tokenized financial products, and updated regulations to boost U.S. leadership in digital finance.
Salman Bananei, Plume’s General Counsel, stated that the report strongly supports permissionless blockchains and decentralized finance (DeFi) as core components of a future on-chain financial system. He sees it as a plan to bring on-chain capital markets onshore under a regulatory framework that manages risks while enabling new opportunities.
Alignment with Plume’s Vision
The report aligns perfectly with Plume’s belief that open, permissionless blockchains and DeFi can strengthen markets with proper oversight. It supports Plume’s calls for regulatory clarity, including innovation sandboxes, safe harbors, and updated rules for custody, registration, and capital treatment, particularly for assets on public blockchains.
The report also agrees with Plume’s stance on stablecoins, viewing them as a way to modernize U.S. payments and suggesting government support for legitimate dollar-backed stablecoins globally. Furthermore, it backs Plume’s proposed tax reforms, such as classifying stablecoins as money and creating a specific tax category for digital assets.
Plume’s Market Position
With over 160,000 holders and $300 million in total value locked (TVL), Plume is a major player in the RWA market, holding around 50% of all RWA holders in Web3. This significant market share positions Plume well to influence policy as governments worldwide grapple with the integration of digital assets into future financial systems. The alignment between Plume’s proposals and the federal recommendations reinforces the company’s leadership in shaping policy at the intersection of blockchain and traditional finance.
About Plume
Plume is a comprehensive blockchain ecosystem dedicated to real-world asset finance. It boasts over 200 projects built on its infrastructure, simplifying the tokenization and integration of RWAs into DeFi applications. This allows users to easily access global financial markets through on-chain tools.
(Disclaimer: This is promotional material. Investment decisions should be based on thorough due diligence.)/p>