SEC approves five-year exemption for on-chain tokenized stocks

The SEC has approved a five-year temporary exemption allowing the trading of tokenized U.S. stocks on regulated on-chain platforms. The policy, previously referred to as the "innovation exemption" by Paul Atkins, targets specific Tokenized Securities Venues (TSV) and automated market makers. While Coinbase, Kraken, Robinhood, Ondo, and Nasdaq supported the move, the SIFMA opposed it, and Commissioner Hester Peirce emphasized that tokenized securities remain financial securities. The market for tokenized stocks has grown to approximately $2.8 billion as of September 17, 2026.