SEC has officially opened a formal entry point for U.S. stocks to be put on-chain.
This five-year innovation exemption allows qualifying platforms to tokenize U.S. stocks and trade the tokens via a permissioned AMM structure. The core requirement is that the on-chain tokens must carry the same rights as ordinary shares—dividend rights, voting rights, and proxy/representation rights.
Many “stock tokens” in the market only offer price exposure; the legal rights don’t get carried onto the blockchain.
Binance’s bStocks also uses a certificate structure and is regulated under the ADGM framework, so holders do not directly appear on the underlying company’s shareholder register.
Therefore, this news cannot be interpreted directly as “bStocks received SEC approval.”
The most interesting part of this development is that regulators are beginning to grade stock tokens.
Going forward, when assessing a stock token, it’s no longer enough to just check whether there is a 1:1 reserve. You also need to determine who holds the dividend, voting, shareholder registration, and bankruptcy recourse rights.
Even if they move in sync with the share price, some represent real equity while others are merely a numeric certificate. The price may look the same, but the rights you actually hold can be very different.
$SPCXB
$CRCLB
$NVDAB
#RWA #代币化股票 #SEC #bStocks
This five-year innovation exemption allows qualifying platforms to tokenize U.S. stocks and trade the tokens via a permissioned AMM structure. The core requirement is that the on-chain tokens must carry the same rights as ordinary shares—dividend rights, voting rights, and proxy/representation rights.
Many “stock tokens” in the market only offer price exposure; the legal rights don’t get carried onto the blockchain.
Binance’s bStocks also uses a certificate structure and is regulated under the ADGM framework, so holders do not directly appear on the underlying company’s shareholder register.
Therefore, this news cannot be interpreted directly as “bStocks received SEC approval.”
The most interesting part of this development is that regulators are beginning to grade stock tokens.
Going forward, when assessing a stock token, it’s no longer enough to just check whether there is a 1:1 reserve. You also need to determine who holds the dividend, voting, shareholder registration, and bankruptcy recourse rights.
Even if they move in sync with the share price, some represent real equity while others are merely a numeric certificate. The price may look the same, but the rights you actually hold can be very different.
$SPCXB
$CRCLB
$NVDAB
#RWA #代币化股票 #SEC #bStocks
