Morning Minute — Tyler Warner (analysis and opinions his own, not necessarily those of Decrypt) GM! Big news brewing: the SEC looks poised to formalize tokenized stocks and other onchain capital-raising tools — without waiting for Congress. What Bloomberg reports - The SEC plans to unveil two crypto initiatives in the coming days while the CLARITY Act remains stalled until at least September. - First: an open meeting on Friday to propose “Regulation Crypto,” a framework designed to let projects raise capital through token sales without going through full securities registration. - Second (and potentially more consequential for onchain markets): an “innovation exemption” for tokenized stocks. Details could be released Friday. Why it matters - The exemption would allow tokenized versions of shares — think Apple, Tesla, Nvidia — to trade on blockchains 24/7, in fractional amounts, with near-instant settlement. - Most of these tokens aim to replicate a stock’s economic exposure while excluding voting and dividend rights (some protocols are working on those features). That distinction is central to the SEC’s rationale for lighter regulatory treatment. - This move sits at the heart of Chair Paul Atkins’ “Project Crypto” agenda. Market context and momentum - Tokenized stocks have powered this year’s biggest onchain growth story: RWA (real-world asset) activity and secondary markets. Robinhood Chain saw RWA volume jump fivefold this summer, and tokenized-stock flows are surging across Solana and Base. - Traditional finance is also moving onchain: the NYSE is building a settlement platform, BlackRock has launched tokenized funds on Solana and Ethereum, and Circle’s Arc has enlisted BlackRock, Visa, and Mastercard as validators. - Much of this activity has so far operated in a regulatory gray zone and been steered away from U.S. retail. A formal SEC exemption would change that by providing legal clarity and potentially opening U.S. access to the products these chains were designed to support. The potential upside - If implemented as expected, this could be one of the most bullish regulatory developments for crypto in years: a green light for the RWA narrative and a major accelerator for tokenized asset growth. Of course, the details will matter — so watch Friday’s announcement closely. Also in the newsletter: Corporate Treasuries & ETFs, Meme Coin Tracker. Read more AI-generated news on: undefined/news