US Congress · SEC · US Senate · CLARITY Act · CryptoSlate
After Congress killed its landmark crypto bill, the SEC unlocked the $77 trillion US stock market through tokenization
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The US Securities and Exchange Commission (SEC) has opened a five-year pathway for regulated US stocks to trade on blockchain-native venues.
Key facts
- Turnover increased 4.4-fold in three weeks, from $360 million to $1.6 billion per weekend, reinforcing the case that investors are using tokenized equities partly to trade outside conventional market
- Token Terminal data show tokenized stocks reached a record $3.2 billion in market capitalization, up 1,219.3% over the past year
- Token Terminal counted 3.7 million tokenized-stock holders, up 4,247.8% over the past year, though the figure reflects on-chain holders rather than necessarily distinct investors
- This move opens the $77 trillion US stock market to crypto-style trading
Summary
01 The SEC opened a five-year exemption for regulated US stocks to trade on permissioned blockchain venues. 02 The test could bring offshore tokenized-equity activity onshore and expand trading beyond exchange hours. 03 Issuer vetoes, volume caps and thin off-hours liquidity may limit adoption before permanent rules emerge. The Innovation Exemption came two days after the Senate failed to advance the CLARITY Act, a broad crypto market-structure bill that sought to establish statutory rules for digital assets and clarify regulatory responsibilities.