The SEC didn’t need Congress. US stocks are heading onto blockchains.
The SEC granted a five-year exemption on Wednesday that lets approved venues trade tokenized versions of listed US stocks on public blockchains. Holders get the same dividends, votes and corporate actions as ordinary shareholders, price trackers and synthetics are excluded, and issuers get 30 days to object before their stock can be listed.
Scott Melker’s read is that the regulators had these rules ready and never expected the Clarity Act to pass. The CFTC filed its own crypto rulemaking the same week.
He also covers the Fed’s first hike since 2023 and a Wall Street Journal report on Binance’s blocked European licence.
Timestamps
0:00 Congress failed, the agencies moved
0:48 What Brian Armstrong hinted at a day early
1:28 The five-year exemption, and what it actually permits
2:30 Secondary trading only, and real securities only
3:30 Why issuers get a veto
4:20 Public chain, permissioned access
5:10 Trading stocks against stablecoins
6:00 The caps, the tiers, and the three-month pause
7:13 The CFTC files the same week
8:01 Is the Clarity Act dead
8:51 The Fed’s first hike since 2023
11:00 A report that the ECB blocked Binance in Europe
12:41 Sam Altman’s World Money
#Bitcoin #Crypto #SEC #TokenizedStocks #WallStreet #YahooFinance #ScottMelker #DailyWolf
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