The SEC is preparing to allow trading in tokenized stocks. How will this change the market?

The administration of US President Donald Trump is preparing to present a plan to trade digital versions of securities, which could radically change the landscape of the US stock market, Bloomberg writes, citing sources familiar with the situation. According to them, the U.S. Securities and Exchange Commission (SEC) may publish a so-called "innovation exception" for tokenized stocks as early as this week. This move, according to Bloomberg, will create a new structure for betting on securities of publicly traded companies.

According to Bloomberg's interlocutors, this is the SEC's permission to trade tokens tied to the dynamics of specific stocks without the support or consent of the issuers of those stocks. The agency calls such a move by the U.S. regulator "unexpected." These "third-party" tokens will actually become a new way to speculate on stock price fluctuations, Bloomberg's sources say. New digital assets, according to them, will be traded on decentralized crypto platforms. At the same time, not all such instruments will offer the same benefits as ordinary shares, such as voting rights or dividends, the agency emphasizes. According to the SEC's proposal, platforms that will not be able to provide their owners with these benefits will lose the right to place such tokens.

The launch of transactions with tokenized shares in the U.S. will be one of the main tests of whether it is possible to shift stock trading to crypto infrastructure without the protective mechanisms that regulate traditional securities markets, Bloomberg points out. By allowing third-party players to issue digital analogs of shares without the consent of the issuing companies themselves, the SEC will launch a large-scale experiment that will show whether such parallel markets can function outside the regulatory framework created to ensure fair pricing, transparency and investor protection.

According to Bloomberg, the SEC's plan would divide tokenized securities into two categories: those tokenized by (or on behalf of) the issuers themselves and those tokenized by third parties not directly related to the issuers.

Now, the SEC is still working on the document, the agency points out, noting that its details could change before publication.

An SEC spokesman said the agency has met with hundreds of market participants and gathered a wide range of feedback on how to adjust the rules for new types of trading.

The material is supplemented

This article was AI-translated and verified by a human editor