SEC launches five-year Innovation Exception for on-chain tokenized US stock trading; CFTC advances crypto regulatory framework as Bitcoin rallies past $81K.
Regulation & Gov ·
The SEC introduced a five-year "Innovation Exception" program permitting eligible platforms to trade tokenized US stocks on-chain with relief from certain exchange and dealer-registration requirements, while the CFTC submitted its crypto market framework proposal for review and extended protections to specific software developers. Bitcoin climbed from $78,000 to over $81,000 following these regulatory announcements, though regulators' framework changes operate under existing authority and remain subject to reversal by future administrations, unlike legislation that would provide greater durability.