U.S. SEC to again delay ‘innovation exemption’ for tokenization amid Wall Street, White House concerns
The SEC was ready to release at least some part of the innovation exemption alongside its now-canceled open meeting for “Reg Crypto” on Friday.
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Summary
- The Securities and Exchange Commission (SEC) has again delayed its planned “innovation exemption” for tokenized securities amid concerns from the White House and Wall Street firms, industry sources said.
- The White House fears the move could complicate congressional negotiations over the Digital Asset Market Clarity Act, while major financial firms, led by trade group SIFMA, argue that sweeping market-structure changes should go through a formal rulemaking process rather than exemptions.
- The setback comes as tokenization gains momentum across Wall Street, with exchanges and clearinghouses testing blockchain-based trading and analysts projecting a multitrillion-dollar market for tokenized assets by the end of the decade.
