The SEC issued an Innovation Exemption allowing decentralized finance (DeFi) platforms to conduct permissioned trading of tokenized US-listed stocks under regulatory oversight until 2031. Orca's legal chief highlighted this as a chance for DeFi to prove its efficiency claims against traditional markets. The exemption requires issuer consent and trading controls, distinguishing it from fully open DeFi. The five-year trial will provide data on on-chain trading's real-world viability and could influence future regulatory frameworks.
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