SEC Launches 'Innovation Exemption' for Tokenized US Stocks

Following the failure of the Clarity Act in the US Senate, the SEC has introduced an 'Innovation Exemption' allowing qualified platforms to trade tokenized US stocks on public blockchains. The policy, which grants a five-year transition period, permits platforms to operate as Tokenized Securities Venues (TSVs) without registering as national securities exchanges. The rules strictly prohibit 'synthetic tokens' and require that tokenized assets provide full shareholder rights, including dividends and voting power. Additionally, issuers are granted a 30-day veto right over the listing of their tokenized shares.