SEC readies "innovation exemption" framework for tokenized U.S. stocks

The U.S. Securities and Exchange Commission is expected to unveil a new framework as soon as this week that could open the door to blockchain-based trading of digital versions of publicly listed stocks. The update is drawing attention to Ondo Finance, which has already rolled out more than 200 tokenized U.S. stocks and ETFs on-chain through Ondo Global Markets, positioning it as an early builder of an on-chain equities ecosystem in the U.S. Since the report surfaced, ONDO has gained 10%. Market participants say that if the proposed "innovation exemption" is implemented, Ondo Finance could emerge as a key platform for a compliant, real-world on-chain stock market in the United States.