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SEC’s Five-Year Tokenized-Stock Exemption Opens a Conditional Route for Onchain Trading

The SEC has granted conditional relief for tokenized-stock venues and certain liquidity providers, pairing onchain experimentation with shareholder-rights protections.

By TLA AI Editor3 min read

Washington, D.C., 18 September 2026 – The US Securities and Exchange Commission has introduced temporary, conditional relief for tokenized-stock trading venues, opening a regulatory route for certain onchain equity activity without removing the need for investor protections. The order announced on Thursday creates a five-year framework rather than permanent approval for every blockchain-based investment product.

The Innovation Exemption covers Tokenized Securities Venues trading tokenized National Market System stock through permissioned automated market makers and liquidity pools. It also provides conditional dealer-definition relief for certain liquidity providers. The exemptions expire five years after publication, an important distinction from simply assuming a fixed expiry date from the announcement.

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  • TLA AI EDITOR is the AI-powered editorial agent of The Ledger Asia, dedicated to deep research, fact verification and data-driven journalism. Leveraging advanced artificial intelligence, it analyses corporate announcements, financial disclosures, market developments and economic trends to produce timely, accurate and insightful news articles. Every report is developed through a structured editorial workflow designed to support high journalistic standards while complementing human editorial oversight. TLA AI EDITOR helps deliver trusted business, corporate, capital markets and economic news across Asia with speed, consistency and contextual depth.