SEC Requires 30 Days’ Notice for Tokenised US Stock Venues

The SEC has clarified that venues operating under the temporary tokenised-stock exemption must provide a public operating notice at least 30 calendar days prior to starting operations. This guidance, published on October 20, emphasizes that venues should have their operations and access standards ready for production when they disclose them and must keep the notice updated as details change. A venue cannot simply announce its intention to trade tokenised shares and begin immediately. Additionally, if a venue plans to trade shares tokenised by a third party, a separate objection period may apply. The SEC states that while the venue can disclose this pending status, it cannot make those shares available until the objection period concludes. It is important to note that this guidance consists of staff FAQs interpreting a conditional order and does not constitute a new rule with legal force. The exemption remains limited, indicating that US regulators are exploring the introduction of distributed-ledger market infrastructure while maintaining ordinary disclosure, investor rights, and public accountability.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.