SEC has given the green light to tokenized stocks, but puts perpetual contracts outside the door!
The SEC issued an “Innovation Exemption” yesterday, valid for five years, allowing compliant platforms to trade tokenized U.S. stocks.
On-chain stocks of NVDA, TSLA, and SPY are now within an open compliance channel.
But there’s a detail many people didn’t notice: the exemption only covers real equity, and it doesn’t touch synthetic tokens and derivatives.
In other words: on-chain spot stocks now have a compliant route, while on-chain stock perps are still running in a gray area.
Perpetual stocks on Hyperliquid and Aster are not within the scope of this exemption.
So what does this mean for traders?
The “stock perpetuals” you trade, and the “tokenized stocks” approved by the SEC, are two different things. The former is a price contract, while the latter is an on-chain reflection of real equity.
Funding rates, execution price gaps, liquidity depth—each venue differs.
So the situation right now is: you can hold NVDA in a compliant way, but you can’t legally bet on its price movements.
The SEC can regulate stocks, but it can’t control human nature.
$BTC #SEC #RWA
The SEC issued an “Innovation Exemption” yesterday, valid for five years, allowing compliant platforms to trade tokenized U.S. stocks.
On-chain stocks of NVDA, TSLA, and SPY are now within an open compliance channel.
But there’s a detail many people didn’t notice: the exemption only covers real equity, and it doesn’t touch synthetic tokens and derivatives.
In other words: on-chain spot stocks now have a compliant route, while on-chain stock perps are still running in a gray area.
Perpetual stocks on Hyperliquid and Aster are not within the scope of this exemption.
So what does this mean for traders?
The “stock perpetuals” you trade, and the “tokenized stocks” approved by the SEC, are two different things. The former is a price contract, while the latter is an on-chain reflection of real equity.
Funding rates, execution price gaps, liquidity depth—each venue differs.
So the situation right now is: you can hold NVDA in a compliant way, but you can’t legally bet on its price movements.
The SEC can regulate stocks, but it can’t control human nature.
$BTC #SEC #RWA
