SEC issues 'Innovation Exemption' for tokenized NMS stock trading

The U.S. Securities and Exchange Commission (SEC) has issued a five-year 'Innovation Exemption' allowing Tokenized Securities Venues (TSV) to trade tokenized National Market System (NMS) stocks using permissioned automated market maker (AMM) liquidity pools. The exemption requires compliance with conditions including shareholder rights, auditability, and trading halts synchronized with underlying stocks. Meanwhile, Zcash (ZEC) short seller Garrett Jin faces over $26 million in floating losses, prompting a massive ETH withdrawal from Binance to cover positions. Additionally, Manus is reportedly nearing a $500 million funding round at a $4 billion valuation.