SEC MOVES AHEAD ON CRYPTO WITHOUT NEW LAW

The Securities and Exchange Commission approved a five-year exemption allowing qualifying venues to trade tokenized US stocks on blockchain networks. The action came days after the Clarity Act, which would have provided comprehensive crypto legislation, failed to advance in the Senate. Dante Disparte, chief strategy officer and head of global policy at Circle, discussed the development on Bloomberg Crypto, noting that regulators are pressing forward with their crypto agenda despite the legislative setback. The SEC's move signals regulators will proceed with rulemaking authority rather than wait for new legislation. The tokenized equities exemption represents one of several regulatory initiatives advancing through existing frameworks. The five-year window gives venues time to establish compliant trading infrastructure for digital representations of US stocks. With Congress stalled on comprehensive crypto regulation, agencies like the SEC and CFTC are using existing statutory authority to shape the emerging digital asset ecosystem.