Real stocks are finally coming on blockchain. Here’s how the SEC wants it to work
The SEC is giving tokenized stocks a regulated U.S. pathway, while keeping trading volumes, access and issuer rights tightly controlled.
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Summary
- The SEC will give qualifying tokenized securities venues five years to trade real U.S. stocks on public blockchains through smart contracts and liquidity pools without registering as national securities exchanges.
- Tokenized shares must preserve the voting, dividend and other rights of traditional stock, while synthetic products that merely track share prices are excluded.
- The experiment imposes trading-volume and listing limits, requires permissioned access and public, auditable software, and allows companies to veto third parties from tokenizing their shares.
