The US Securities and Exchange Commission (SEC) has postponed a proposal to allow trading of tokenized stocks through crypto companies. The measure was originally scheduled to be presented this week, but was reportedly postponed to May 22, 2026.
The decision was taken while regulators were evaluating observation carried out by stock exchanges and other market participants Regarding the scope of the initiative. Under the proposal, which the SEC is analyzing, crypto platforms would be able to operate tokenized versions of public company stocks through the Innovation Exemption, a regulatory mechanism aimed at testing new market models.
One of the most controversial elements was the possibility of allowing the issuance and trading of tokens tied to stocks. without the support or consent of the issuing company.. Under this scheme, third parties can create digital representations of listed stocks and offer them within a platform based on a cryptocurrency network.
In this proposal, these tokens Retains the same rights as traditional sharesparticipation in dividends and corporate voting rights, etc. But former officials and regulators questioned how that mechanism could be ensured when assets change hands within a network where transactions can be carried out anonymously.
Among those voicing concerns is Brett Redfern, a former chief trading officer at the SEC and now an executive at a tokenization company. Mr. Redfern said that if a third party can issue tokenized representations without the participation of a company; There is no practical limit to the number of versions of the same action. available on the market.
This scenario would open the door to a parallel market for assets already listed on traditional exchanges. The concern is that there may be multiple expressions of the same action. This fragments liquidity, creates price differentials, and reduces transparency for investors. Regarding the effective value of assets.
Meanwhile, Commissioner Hester Peirce, who is said to be close to the group’s president Paul Atkins, pointed out: The scope of the exemption is expected to be limited. and only allow trading in digital representations linked to stocks that are already available for purchase on the secondary market.
It is worth noting that Tokenization of stocks is not a new idea and already exists in other international markets. As reported by CriptoNoticias. Proponents say it will enable round-the-clock trading, faster settlements, and more efficient price formation.
Among its promoters is Ian de Bode, president of Ondo Finance, who says that continuous trading of tokenized shares could solve liquidity problems and facilitate permanent operations. Similarly, traditional operators also support this direction. The New York Stock Exchange is working with tokenization company Securitize to Platform for continuous trading and instant settlement of tokenized stocks, Meanwhile, Nasdaq is undertaking a similar initiative aimed at modernizing its stock market infrastructure.
At the moment, SEC postponement does not preclude proposalHowever, it shows that regulators are trying to define how far the integration between traditional financial markets and crypto networks will go. The final decision could set a precedent that will determine whether tokenized stocks evolve as a controlled extension of the stock market system or as a parallel market with its own rules.
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