Five years—no registration required. The U.S. SEC has opened a door: the listing and trading of tokenized securities can, at first, be exempt from the usual exchange rules for registration. A nice-sounding name—“innovation exemption.”
An exemption is like makeup applied on someone else—makes you look presentable when you go out, but when you get home you have to remove it. What it looks like after removing it—that’s the real thing.
Who is the door for? For those who can both move assets onto the blockchain and reconcile the books properly. Just hanging a sign saying you can issue stocks, with no ledger on-chain and no custody off-chain—anyone can get in, but they can’t get out.
Even more important is the timeline. The number—five years—is interesting: long enough for a batch of projects to grow up, but short enough that a whole cycle of risks may not yet have finished. If something really goes wrong, it’s likely in the fourth or fifth year—by then, no one will probably bring up “innovation” anymore.
Don’t ask who benefits from this policy. Just look at one thing: during these five years, how many tokenized securities were actually redeemed—how many people truly received their money.
What the group is doing is exactly this: laying out and cross-checking, item by item, the custodians of each tokenized security, redemption records, and jurisdictions. If you want to follow along, scan the QR code below to join the group 👇.
#RWA #SEC #Tokenized Securities
An exemption is like makeup applied on someone else—makes you look presentable when you go out, but when you get home you have to remove it. What it looks like after removing it—that’s the real thing.
Who is the door for? For those who can both move assets onto the blockchain and reconcile the books properly. Just hanging a sign saying you can issue stocks, with no ledger on-chain and no custody off-chain—anyone can get in, but they can’t get out.
Even more important is the timeline. The number—five years—is interesting: long enough for a batch of projects to grow up, but short enough that a whole cycle of risks may not yet have finished. If something really goes wrong, it’s likely in the fourth or fifth year—by then, no one will probably bring up “innovation” anymore.
Don’t ask who benefits from this policy. Just look at one thing: during these five years, how many tokenized securities were actually redeemed—how many people truly received their money.
What the group is doing is exactly this: laying out and cross-checking, item by item, the custodians of each tokenized security, redemption records, and jurisdictions. If you want to follow along, scan the QR code below to join the group 👇.
#RWA #SEC #Tokenized Securities
