Grayscale: US SEC "Innovation Exemption" May Drive Real Tokenized US Stocks into the US Regulated System

Odaily News: Zach Pandl, Head of Research at Grayscale, noted in a post that the US Securities and Exchange Commission's (SEC) recently issued "Innovation Exemption" order is expected to fundamentally transform the landscape in which tokenized US stocks have primarily relied on offshore "wrapped derivative" trading, and to drive real tokenized stocks with full shareholder voting rights and dividend rights into the US regulated financial system. The exemption order has a duration of 5 years and specifically relaxes two core registration requirements: qualified tokenized trading venues would not need to register as traditional securities exchanges; and qualified liquidity providers would not need to register as broker-dealers.

Grayscale believes this marks that on-chain trading infrastructure is proving fully compatible with regulatory compliance and investor protection, and is expected to drive Congress to advance a broader bipartisan legislative process in the future.