SEC Approved Limited Onchain Trading of Tokenized Stocks

• The SEC has approved a temporary exemption for certain venues offering tokenized stocks.
• It will allow the use of automated market makers and liquidity pools within set limits.
• The regulator plans to use pilot data when drafting permanent rules.

The U.S. Securities and Exchange Commission (SEC) has approved a temporary conditional Innovation Exemption for limited trading in tokenized stocks in an onchain environment. Commissioner Mark Uyeda announced this.

The move concerns stocks included in the National Market System (NMS). The exemption will allow Tokenized Securities Venues (TSVs) to facilitate trading in such assets using automated market makers and liquidity pools without the risk of the venue being automatically classified as an exchange under the Exchange Act. 

That said, this is not a full waiver of SEC requirements. Venues must meet a number of conditions, including publishing a notice, ensuring transaction transparency, maintaining records, coordinating trading halts, and complying with technology security requirements.

In addition, the SEC has capped the experiment by the number of available tickers and trading volumes. Transaction data in dollar terms, including price, trade size, time, pool address, end-of-day pool size, and daily turnover, must be published on a regular basis.

Separate relief is предусмотрено for liquidity providers that use their own capital. To do so, they must also comply with disclosure and data retention requirements.

According to Uyeda, the goal of the initiative is to give the SEC an opportunity to observe how new trading models operate and to gather data before developing long-term rules.

“Technological innovation often outpaces rulebooks,” the commissioner noted. 

In his view, regulation should remain technologically neutral and account for the specifics of onchain infrastructure, while preserving investor protection and market integrity.

The Innovation Exemption is temporary and experimental in nature. The SEC has also requested feedback from market participants on the initiative’s parameters and expects to receive data, case studies, and incident information from real-world and test environments.

The decision continues the regulator’s push to integrate tokenized securities into the US market. In March 2026, the SEC authorized Nasdaq to trade securities in tokenized form. In this case, the assets are integrated into the existing exchange infrastructure and trade on par with traditional stocks.

In addition, in August, the commission proposed the Regulation Crypto Assets package. It provides for a separate regime for certain investment contracts involving crypto assets, as well as two exemptions from the standard offering registration process.

Сообщение SEC Approved Limited Onchain Trading of Tokenized Stocks появились сначала на INCRYPTED.