Summary
- The US SEC said it has released a draft 'Innovation Exemption' to introduce on-chain securities, outlining a plan to allow limited trading of tokenized securities.
- Paul Atkins and Hester Peirce said the exemption would allow limited trading of certain tokenized securities on new platforms and serve as a stepping stone toward establishing a long-term regulatory framework.
- With Nasdaq, DTCC, Kraken and Robinhood entering the markets for tokenized stocks and real-world assets (RWA) and global demand rising rapidly, the SEC said it will soon announce approval procedures and detailed standards for related products.
The leadership of the US Securities and Exchange Commission (SEC) has released a detailed draft of an 'Innovation Exemption' aimed at introducing on-chain securities. The proposal would allow limited trading of tokenized securities by exempting certain existing regulations if specific conditions are met.
According to The Block, a digital-asset (cryptocurrency) news outlet, on the 19th (local time) SEC Chair Paul Atkins and Commissioner Hester Peirce explained the proposal at the ETHDenver conference. They said, "The exemption would allow limited trading of certain tokenized securities on new platforms and serve as a stepping stone toward establishing a long-term regulatory framework."
Recently, not only traditional financial institutions such as Nasdaq and the Depository Trust & Clearing Corporation (DTCC) but also digital-asset firms such as Kraken and Robinhood have been entering the markets for tokenized stocks and real-world assets (RWA). As a result, global demand is rising rapidly.
The SEC is expected to announce a concrete plan soon, including approval procedures and detailed standards for related products.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
