- The SEC is preparing an “innovation exemption” to enable 24/7 blockchain trading of tokenized stocks.
- An SEC open meeting is scheduled for Friday to establish a framework for crypto-related investment contracts.
- The exemption was delayed from May after consultations with exchanges, public companies, and other stakeholders.
- The SEC’s move is narrower than the broader Crypto Clarity Act, which remains pending in Congress.
The United States Securities and Exchange Commission is preparing an “innovation exemption” to allow 24/7 trading of tokenized stocks on the blockchain, according to reports. The SEC has scheduled an open meeting for Friday to establish a framework for the sale of certain crypto-related investment contracts.
The SEC originally planned to release the exemption in May. It pushed the date back after hearing from exchanges, public companies, and other stakeholders.
This delay highlights the delicate balance regulators face between fostering innovation and protecting investors. The proposed exemption, if finalized, would mark a significant step toward integrating traditional finance with digital assets.
Notably, the exemption would also fulfill the SEC’s recent promise to push through new crypto legislation regardless of whether the Crypto Clarity Act is passed. The SEC’s proposed framework is narrower than the larger CLARITY Act.
The CLARITY Act aims to bring more regulatory clarity and investor protection for the cryptocurrency sector. Either way, both developments are welcome.
Currently, US Congress is on summer recess, so the Clarity Act remains on the back burner. Senate Majority Leader John Thune has filed to schedule a procedural vote on the bill when lawmakers return in mid-September.
But Congress has limited time to pass it before the midterm elections. A procedural vote is not the same as a final deal.
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