The securities regulator was making ready to launch its “innovation exemption” for tokenized shares as quickly as this week, and a draft of the plan had been ready and reviewed by workers.
Nevertheless, the timing has since been pushed again because the SEC weighs enter from stock-exchange officers and different market individuals, reported Bloomberg, citing folks conversant in the matter on Saturday.
The exemption would have allowed the buying and selling of tokenized shares on decentralized exchanges that should not have the backing or consent of the general public firms whose shares they observe.
Consultants Weigh Professionals And Cons
Nevertheless, the SEC famous that permitting the buying and selling of third-party tokens has raised issues. A number of former regulators reportedly mentioned it was unclear how firms may fulfill the identical rights standards as tokens traded on third-party blockchains.
Bloomberg additionally reported that public firms may face uncertainty over regular practices comparable to issuing dividends and counting shareholder votes. There was additionally concern about tokens ending up within the arms of unhealthy actors abroad.
SEC Commissioner Hester Peirce mentioned earlier this week that any exemption can be “restricted in scope” by solely allowing “digital representations of the identical underlying fairness safety that an investor may buy within the secondary market in the present day.”
“The SEC deserves numerous credit score for making ready diligently for laws and for shifting forward expeditiously underneath its present authority to offer readability to markets in adopting tokenization in capital markets,” mentioned Coinbase chief authorized officer Paul Grewal on Saturday.
Thanks @HesterPeirce. @Coinbase has lengthy supported the considerate SEC workers feedback already revealed on tokenization.
The SEC already has the present authority it wants to allow innovation in securities markets, significantly for actual, onchain tokenized NMS equities that… https://t.co/Mwr5VBrSVQ
— Paul Grewal (@iampaulgrewal) Might 23, 2026
In the meantime, Tiger Analysis director Ryan Yoon cautioned that permitting third-party buying and selling of tokenized shares may danger liquidity and income fragmentation. The transfer may create “value discrepancies throughout platforms,” along with rising slippage on giant orders, and finally “degrading general market effectivity,” he mentioned.
He added that monetary revenues that ought to accrue to home US exchanges may move offshore as an alternative. Advantages from the transfer may embrace sooner settlement, fractional possession, decrease transaction prices, the potential for twenty-four/7 buying and selling, and giving non-US residents entry to in style US shares.
Crypto Markets Bounce on Trump Deal
Crypto markets have recovered from their Saturday droop in the present day following the newest announcement from US President Donald Trump, who mentioned on Reality Social that an settlement has been “largely negotiated, topic to finalization between america of America, the Islamic Republic of Iran, and the assorted different international locations.”
The deal would come with reopening the Strait of Hormuz, and “last elements and particulars of the deal are presently being mentioned and shall be introduced shortly,” he added.
Bitcoin reclaimed $77,000 in early buying and selling on Sunday following its dip to a five-week low of $74,200 on Saturday.
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