"We should consider whether a more efficient approach to regulation exists," Mark T. Uyeda, acting SEC chairperson, said at the second cryptocurrency working group roundtable. He noted that "under an inclusive federal regulatory framework, some market participants may prefer to provide trading services for tokenized securities and non-securities crypto assets under a single SEC license, rather than under 50 different state licenses." Uyeda stressed that "blockchain technology has the potential to execute and clear securities transactions in a more efficient and reliable manner than the current process." He suggested that "a time-limited, conditional exempt regulatory framework may allow for greater innovation of blockchain technology in the United States in the short term."