Crypto▼ Bearish
SEC Delayed Token Exemption to Protect Clarity Act Vote, Securitize Says
The SEC delayed a tokenized securities exemption to avoid complicating the Clarity Act's passage, Securitize's president said. Senate vote set for Sept. 15.
Continue with
The U.S. Securities and Exchange Commission deliberately postponed an innovation exemption for tokenized securities to avoid derailing the votes needed to pass the Clarity Act, Securitize President Brett Redfearn said at the Wyoming Blockchain Symposium.
The exemption had been scheduled for release on August 14. The SEC withdrew it while lawmakers sought broader support for the market-structure bill, then published its separate Regulation Crypto Assets rule on August 18.
“I think it could have interfered with the Clarity policy,” Redfearn said. He expects the exemption to arrive after the Clarity Act’s passage, likely in October, and to cover tokenized securities traded through a new platform type that would not require a broker-dealer, a registered alternative trading system, or a traditional exchange.