The Securities and Exchange Commission has pulled back on plans to release a broad exemption allowing U.S. crypto firms
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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.
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.