SEC's this time innovation exemption: a compliant platform can tokenize real-asset U.S. equities and trade them on-chain—this is not the ordinary stock tokenization that was previously mentioned.
The token covered by the innovation exemption here must have all the shareholder rights of common stock; the listed company corresponding to the stock must be informed and have veto power; only whitelisted wallet addresses approved through the process are allowed to trade; once that stock is delisted from Nasdaq or the NYSE, its corresponding tokenized version must also stop trading in sync; and the smart contract code must be made public so that regulators and investors can review it.
This is the starting point where traditional securities and blockchain truly converge. Once U.S. equities run successfully, bonds and various other assets will be tokenized one after another, and global asset trading rules may undergo a redesign.
The token covered by the innovation exemption here must have all the shareholder rights of common stock; the listed company corresponding to the stock must be informed and have veto power; only whitelisted wallet addresses approved through the process are allowed to trade; once that stock is delisted from Nasdaq or the NYSE, its corresponding tokenized version must also stop trading in sync; and the smart contract code must be made public so that regulators and investors can review it.
This is the starting point where traditional securities and blockchain truly converge. Once U.S. equities run successfully, bonds and various other assets will be tokenized one after another, and global asset trading rules may undergo a redesign.