The agency's staff had been preparing to release the so-called innovation exemption as soon as this week
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A central sticking point is a provision that would permit trading in third-party tokens—digital representations of company shares issued without the knowledge or approval of the underlying corporations.
Key facts
Amid criticism of the delayed exemption, SEC Commissioner Hester Peirce defended the proposal's narrow focus
The Securities and Exchange Commission has pulled back on plans to release a broad exemption allowing U.S. crypto firms to trade tokenized stocks and other tokenized assets, Friday
SEC Chair Paul Atkins had previously indicated the agency would soon debut its proposed innovation exemption that could function as a regulatory sandbox for on-chain equities
Summary
The SEC postponed its anticipated exemption for tokenized assets following concerns about third-party issuers, per Bloomberg. SEC staff has been discussing the proposed framework with stock exchange officials and market participants. Commissioner Hester Peirce defended the proposal's limited scope, saying it would only cover digital representations of existing equities. The Securities and Exchange Commission has pulled back on plans to release a broad exemption allowing U.S. crypto firms to trade tokenized stocks and other tokenized assets, Friday. The agency's staff had been preparing to release the so-called innovation exemption as soon as this week, according to people familiar with the matter who spoke on condition of anonymity.