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SEC pushes innovation exemption for tokenized listed securities
The SEC is not listing the innovation exemption on Friday’s agenda, but it is advancing a separate proposal on a tailored offering regime for certain crypto investment contracts.
The U.S. Securities and Exchange Commission is moving forward with an “innovation exemption” framework for tokenized listed securities, SEC Chair Paul Atkins said, aiming to provide a cabined path for compliant onchain trading while the agency develops longer-term rules.
Atkins described the exemption at a high level, saying it would let market participants begin facilitating tokenized-securities trading onchain “in a compliant fashion,” though the speeches did not specify the exemption’s legal form, effective date, binding conditions, or which requirements it would change.
Bloomberg reported the initiative could pave the way for 24/7 trading of stock tokens on blockchains, but the SEC’s public descriptions did not identify which platforms or products would qualify.
Separately, the SEC’s Friday meeting agenda does not list the innovation exemption, with the only item focused on whether to issue a release proposing new rules for a tailored offering regime for certain investment contracts involving crypto assets. The SEC has also reiterated that tokenized securities remain securities and that federal securities laws apply regardless of whether a security is onchain or offchain.