SEC grants temporary exemption for tokenized US stock trading
The SEC approved a temporary “innovation exemption” that allows limited trading of tokenized US stocks on certain onchain venues. Tokenized Securities Venues may offer permissioned trading of tokenized National Market System stocks, including through automated market makers and liquidity pools, if they meet requirements for transparency, recordkeeping, and technology safeguards. These venues must publish US dollar-denominated transaction data such as prices, trade sizes, timestamps, pool addresses, end-of-day pool sizes, and daily volumes. The framework is intentionally limited, with symbol and volume caps. The SEC says the arrangement will help it gather data on onchain securities trading and shape future rules, and it is seeking public feedback, including data and case studies from live or test environments.
