SEC clears regulated on-chain path for real tokenized U.S. stocks
The SEC’s five-year exemption creates a regulated pathway for tokenized U.S. stocks that carry full shareholder rights, potentially benefiting issuer-sponsored tokenization firms and custodial models while excluding synthetic price-only tokens. It enables on-chain AMM trading within a regulated DeFi-like framework with KYC and issuer veto rights, signaling a cautious but meaningful step toward tokenized equities rather than a broad, immediate on-chain stock market.