The SEC Just Legalized Trading Apple Stock on Uniswap. The $3 Billion of Tokenized Stocks That Already Exist Don't Qualify.
Two days after the Senate killed the CLARITY Act, the SEC dropped a five-year 'innovation exemption' letting permissioned AMM pools trade real US stocks onchain with no exchange registration. The catch: tokens have to carry actual shareholder rights. Ondo, xStocks and Robinhood's stock tokens don't. An SEC spokesperson's verdict on the synthetics: 'They can remain out in the wilds.'