Hester Peirce: The “Innovation Exemption” for On-Chain Tokenized Stocks Applies Only to Stocks Currently Tradable in the Secondary Market

Hester Peirce stated in a post that while she is attentive to the innovative exemption for tokenizing NMS stocks on-chain, she emphasized that its significance should not be overstated. She noted that the exemption is expected to be narrowly scoped—applicable only to digital representations of underlying stocks already available for purchase in existing secondary markets, not to synthetic products. Peirce also clarified that her tweets do not represent the views of the SEC or any other SEC Commissioner.