Cryptocurrencies and stocks of companies affected by the decision are trading sharply higher this Thursday (17)
#MemeLaunchpads82%OfArcDayOneVolume
The SEC, the U.S. Securities and Exchange Commission, approved a temporary exemption this Thursday (17), allowing limited trading of tokenized shares on blockchain platforms. According to the authority, the goal is to deepen its understanding of how these platforms work in order to develop future regulatory policies.#SECCrypto
The approval comes two days after the Clarity Act stalled in the U.S. Senate and, therefore, is giving the market confidence. At the time of writing, Bitcoin is up 1% over the past 24 hours, but the cryptocurrencies that are rising the most are those that benefit from the resolution, including Uniswap, Ondo, Lighter, and Canton.#SKPoliceRefer18PolymarketUsersToProsecutors
In Brazil, the CVM has also moved forward with similar regulation. In a note published this Wednesday (17), the authority says it has finalized rules for the start of tokenization testing in the financial market. #MemeLaunchpads82%OfArcDayOneVolume
SEC Chair calls the exemption ‘regulatory relief’ and talks about the rejection of the Clarity Act $BTC
Paul Atkins, chair of the SEC, emphasizes that the so-called ‘Innovation Exemption’ will last for five years. The reason would be to allow market development during that period, while the Commission assesses future regulations.
In a video, Atkins acknowledges that Congress failed to move forward with the Clarity Act and that passage of this law serves as a guarantee for the evolution of the U.S. market into the digital era.
“Today’s SEC order grants two forms of temporary and conditional exemption. First, it exempts certain trading platforms from the definition of ‘exchange’ in Section 3(a)(1) of the Exchange Act. Second, it exempts certain liquidity providers from the definition of ‘dealer’ in Section 3(a)(5) of the Exchange Act. […] This exemption is a structured, principles-based grant of regulatory relief. It is intended to address a specific legal uncertainty that drove innovation out of the United States, while also offering investor protection and maintaining market integrity standards.”
In a statement, the SEC highlights other details of this exemption. This includes limits on the number of assets and trading volume, as well as the availability of trading data to the regulator (including price, quantity, time, pool address, and daily volume).
Cryptocurrencies affected by the decision surge
While Bitcoin is up 1% over the last 24 hours, other cryptocurrencies show double-digit percentage gains this Thursday (17).
The main highlights are Uniswap, Ondo, Aero, Aster, Canton, and Lighter.
In the case of Uniswap (UNI) and Aster (ASTER), both projects already offer trading of tokenized assets.
Next, Ondo (ONDO) is one of the leading issuers of tokenized shares, while Aerodrome Finance (AERO) is one of the main liquidity pools for these assets. Finally, Canton (CC) is a network built specifically for assets.
The same is true for companies. As an example, shares of Securitize (NYSE: SECZ) are up 20.2% this Thursday (17), while Bullish (NYSE: BLSH) shares rise 7.1%.