Crypto Stocks Surge Over 20% Following SEC Innovation Exemption

After a sharp decline triggered by the failure of the CLARITY Act in the U.S. Senate, crypto-related stocks staged a strong recovery. The SEC bypassed legislative gridlock by issuing Order No. 34-106402, granting a five-year conditional exemption for Tokenized Securities Venues (TSV). This policy allows for on-chain matching and market-making, benefiting infrastructure firms like Securitize (Securitize). While major tokens like BTC and ETH saw modest gains, privacy coin ZEC surged significantly following disclosure by Paradigm co-founder Matt Huang. Additionally, Nasdaq has invested $100 million in Kraken's parent company, Payward, to facilitate tokenized stock trading by 2027, while South Korea's FSC and FSS have unveiled a three-stage roadmap for tokenized securities.