OKXICE TSV, Two Others Seek SEC Exemption for US Tokenized Securities Trading
Summary
- Three companies, including OKXICE TSV, notified the SEC that they plan to operate tokenized securities trading platforms under its exemptive relief framework.
- The companies are seeking to use the SEC’s “innovation exemption,” introduced on Sept. 17, to obtain a temporary exemption from the application of the exchange definition under securities law.
- The SEC said inclusion on the list does not mean a company meets the TSV definition or satisfies the conditions for the exemption, and that a notice of intent to operate is separate from the approval process.
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Three companies, including OKXICE TSV, have notified the US Securities and Exchange Commission that they intend to operate tokenized securities trading platforms under the regulator’s exemptive relief framework.
According to the SEC’s website on Oct. 22, OKXICE TSV submitted written notice of its intent on Oct. 4. TSV LLC had previously filed on Sept. 23, while Kepas Corporation, which operates Perpetuals.com, was added to the list on Oct. 14.
The companies are seeking to use the SEC’s “innovation exemption,” introduced on Sept. 17. The measure temporarily exempts qualifying tokenized securities venues, or TSVs, from the definition of an exchange under US securities law.
To begin operations, a platform must post a notice containing required information on its website at least 30 days in advance. Within one business day after the posting, it must separately submit contact information and the web address of the notice to the SEC.
The SEC said a notice of intent to operate is separate from the approval process. Inclusion on the list does not mean a company meets the definition of a TSV or satisfies the conditions for the exemption.
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