Article
SEC “Innovation Exemption” tokenized stocks could see the first trading platforms as early as next quarter
BlockBeats reported that on September 22, Taylor Lindman, chief legal counsel of the U.S. Securities and Exchange Commission (SEC) Crypto Task Force, said that the first trading platforms for tokenized stocks based on the SEC’s “Innovation Exemption” could begin preparations and submit the relevant notices as early as the fourth quarter of 2026.
In an interview with Crypto In America, Lindman said that the companies involved are expected to issue notices of their operating plans in the coming months, with the first applications potentially appearing “at some point next quarter.” Last week, the SEC introduced a 5-year conditional exemption allowing eligible platforms to trade tokenized versions of U.S. stocks on public blockchains through automated market makers (AMMs) and liquidity pools.
Lindman said that such platforms are closer to “on-chain finance” than true DeFi because they still need clearly identified operating entities and must assume compliance responsibilities. SEC Commissioner Hester Peirce said that the current caps on the number of tradable stocks and trading volumes are sufficient to support commercial operations rather than merely technical testing; if the restrictions become an obstacle to development in the future, the SEC can adjust the caps.
In addition, the exemption requires platforms to give relevant listed companies a 30-day objection period before offering company stock tokens issued by third parties. Peirce said she expects issuers overall to maintain strong interest in the tokenized stock market.
Original link: https://m.theblockbeats.info/flash/368347