The SEC is preparing to unveil an « innovation exemption » that would allow crypto platforms to trade tokenized versions of US public stocks on blockchain rails, bypassing traditional broker-dealer requirements. Under the framework championed by SEC Chair Paul Atkins, approved platforms could list tokenized shares that trade 24/7 instead of the current 6.5 hours per weekday, with faster blockchain-based settlement replacing the T+1 framework. Coinbase has already signaled its intent to launch tokenized stock products in the US. Offshore tokenized stock products have accumulated a market capitalization exceeding $6.4 billion, and the SEC aims to bring some of that activity onshore under a regulated framework.
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