Anonymous21 days ago
The SEC is advancing a carefully circumscribed "Innovation Exemption" that would allow select crypto platforms to trade tokenized versions of traditional stocks and bonds under sandbox-like conditions, while simultaneously issuing guidance that keeps tokenized securities firmly under existing federal securities law. The move has ignited a fierce lobbying battle between traditional exchanges like Nasdaq and NYSE—which warn the exemption could erode market integrity—and crypto-native firms eager for regulated access to equities markets, all while the broader tokenized real-world assets market surges past $23 billion.