A temporary exemption would permit certain tokenised stock trading platforms to operate outside the Exchange Act's definition of an exchange, subject to conditions aimed at investor protection and market oversight.
The US Securities and Exchange Commission (SEC) has issued temporary conditional exemptive relief to allow Tokenised Securities Venues (TSVs) to facilitate trading in tokenised National Market System (NMS) stocks without being classified as exchanges under the Securities Exchange Act of 1934. TSVs are designed to bring together buyers and sellers of tokenised NMS stocks The SEC said that the relief applies to platforms using permissioned automated market makers and liquidity pools to s