SEC Clears Path for Tokenized Stocks, Advancing Prospects for 24/7 Trading
A new 'Innovation Exemption' from the U.S. Securities and Exchange Commission could pave the way for blockchain-based versions of traditional equities, according to CNBC.
The U.S. Securities and Exchange Commission has cleared a regulatory path for tokenized stocks, a development that could bring the financial markets closer to round-the-clock trading, CNBC reported.
According to the report, the SEC's long-awaited 'Innovation Exemption' opens the door for companies to issue blockchain-based representations of publicly traded shares, a format proponents say could eventually support trading outside the traditional hours of U.S. exchanges.
CNBC noted that the SEC's move comes two days after the U.S. Senate voted to block the Clarity Act, a crypto market structure bill, from advancing. The timing places the SEC's action amid ongoing debate in Washington over how digital assets and blockchain-based financial products should be regulated.
Further details on the scope, timeline and specific requirements of the Innovation Exemption were not immediately available. CNBC's report is the source of the information in this article.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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