Summary
- The Securities and Exchange Commission (SEC) has again delayed its planned “innovation exemption” for tokenized securities amid concerns from the White House and Wall Street firms, industry sources said.
- The White House fears the move could complicate congressional negotiations over the Digital Asset Market Clarity Act, while major financial firms, led by trade group SIFMA, argue that sweeping market-structure changes should go through a formal rulemaking process rather than exemptions.
- The setback comes as tokenization gains momentum across Wall Street, with exchanges and clearinghouses testing blockchain-based trading and analysts projecting a multitrillion-dollar market for tokenized assets by the end of the decade.
Tokenization Delay: SEC Delays Innovation Exemption Amid Concerns
The U.S. Securities and Exchange Commission (SEC) is set to delay its highly anticipated “innovation exemption” for tokenized securities trading. This delay comes after concerns were raised by both the White House and Wall Street regarding the proposal’s legal implications and potential market impact. The exemption was expected to simplify regulatory processes for firms issuing and trading tokenized securities on blockchain platforms under existing securities laws.
The delay may affect the growth of the tokenized securities market, which could have significant implications for the broader crypto industry, including #Bitcoin and other digital assets. The SEC had initially planned to discuss the exemption at an open meeting, but it was canceled at the last minute. This move has sparked concerns among industry players who were looking forward to clearer guidelines on tokenized securities trading.
_impact on the Crypto Industry
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