SEC Innovation Exemption: First Batch of Tokenized Stock Trading Platforms May Announce Operational Plans as Early as Next Quarter

Odaily reports: Taylor Lindman, Chief Legal Counsel of the SEC Crypto Task Force, stated that under the newly introduced innovation exemption framework, the first batch of tokenized stock trading platforms may begin announcing operational plans as early as next quarter. The SEC has already received expressions of interest from multiple companies.

The exemption is valid for 5 years, allowing eligible platforms to trade tokenized U.S. listed stocks on public, permissionless blockchains through permissioned AMMs and liquidity pools, with the relevant tokens required to retain traditional shareholder rights such as dividends and voting. SEC Commissioner Hester Peirce stated that the existing trading volume cap is sufficient to support commercial operations, and views the exemption as a transitional arrangement before long-term regulatory rules are introduced.