Key Takeaways
BlockchainReporter reports the SEC issued an order granting temporary exemptive relief to allow tokenized securities venues to trade NMS stock.
According to BlockchainReporter, the U.S. Securities and Exchange Commission issued an order granting temporary, conditional exemptive relief to tokenized securities venues. The relief allows these venues, referred to as TSVs, to trade tokenized National Market System stock without registering as an exchange. The Innovation Exemption permits venues to use permissioned automated market makers and liquidity pools to match buyers and sellers of onchain stock tokens under specific investor protection conditions.
Additionally, the order grants a conditional exemption from the dealer definition to liquidity providers supplying tokenized NMS stock using proprietary capital. The exemptions are set to expire five years after publication, with the agency soliciting public comment. SEC Chairman Paul S. Atkins stated that the relief facilitates onchain trading while the Commission considers further action. Jamie Selway, director of the SEC Division of Trading and Markets, noted the approval marks an important milestone. The order follows the stalling of the Digital Asset Market Clarity Act in the Senate and builds upon institutional infrastructure efforts involving ICE and tZERO's NYSE tokenized securities work.
Source & Fact-Check Note
This report is synthesized from coverage by BlockchainReporter. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
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