SEC Grants Five-Year Exemption for Tokenized U.S. Stocks, Synthetic Exposure Products Excluded

Odaily reports: The U.S. Securities and Exchange Commission (SEC) issued a position on September 17, granting a five-year exemption for qualifying tokenized U.S. stocks, allowing them to be traded on-chain in the United States. The tokens must carry the same dividend, voting rights, and share class rights as the underlying stocks.Synthetic exposure products are not covered by the exemption. AMC Entertainment CEO Adam Aron called Robinhood's tokenized AMC shares a "quasi-fake market" and threatened legal action, while Robinhood CEO Vlad Tenev stated that public companies have no right to approve every product developed based on their stocks.Over seven trading days from August 31 to September 9, the median deviation between the closing price of Robinhood AMC tokens in the Uniswap pool and the closing price of AMC on the New York Stock Exchange was 0.87%, with a maximum deviation of 2.71%. The Uniswap pool carries approximately 95% of the related trading volume. (CoinDesk)