SEC’s big swing to clear tokenization path isn’t likely to get resilience of full rule
Former SEC lawyers say that using its power to grant tokenization “innovation” efforts an exemption from securities law isn’t as strong as a full-fledged rule.
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Summary
- The U.S. Securities and Exchange Commission’s forthcoming “innovation exemption” for tokenization isn’t expected to rate at the top of the agency’s hierarchy of policy durability, despite the crypto sector’s years-long wait to get U.S. rules set in stone.
- Former SEC lawyers say the agency’s power to exempt activity from securities laws would still be difficult to reverse, though agency leaders have said this initial policy will be narrow and time-limited.
