The U.S. Securities and Exchange Commission (SEC) has postponed the launch of its highly anticipated “innovation exemption,” a regulatory measure that would allow crypto firms to trade tokenized stocks and other assets on blockchain networks. Information published by Bloomberg reveals that the decision by the agency, led by Paul Atkins, was made after receiving critical feedback and holding intense discussions with executives from major traditional stock exchanges and various financial market participants.
The center of the controversy is a provision that would authorize the trading of third-party tokens issued without the consent of the underlying corporations. Former regulators warn that this modality could fragment liquidity and complicate dividend distribution or shareholder vote counting.
In the face of criticism over the delay of this regulatory sandbox, Commissioner Hester Peirce defended the approach, clarifying that the proposal will be strictly limited to digital representations of real secondary market equities and not synthetic products. The SEC’s next step will be to adjust the legal framework to balance innovation and institutional protection.
Source: https://goo.su/CZ96a
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