Securitize scaled back its regulatory expectations after its president, Brett Redfearn, revealed that the U.S. Securities and Exchange Commission (SEC) deliberately delayed an innovation exemption for tokenized securities to avoid jeopardizing the votes needed to pass the Clarity Act.
The exemption, which had been scheduled for August 14, was withdrawn while legislators sought broader support for the market structure bill. The SEC published its separate Regulation Crypto Assets rule on August 18.
“I think it could have interfered with the Clarity policy,” said the Securitize president during the Wyoming Blockchain Symposium. Redfearn anticipated that the exemption would arrive after the Clarity Act’s approval, likely in October, and that it would cover tokenized securities traded through a new type of platform that would not require a broker-dealer, a registered alternative trading system, or a traditional exchange.
The path forward, however, presents several obstacles. Senate approval of the Clarity Act remains uncertain, with a cloture vote scheduled for September 15. Additionally, the Securitize executive warned that the exemption could face legal challenges from traditional financial intermediaries, potentially delaying its implementation by up to two years.
Securitize, which began trading publicly on July 2 and holds nearly $400 million in cash, continues expanding its tokenized securities infrastructure through projects alongside the New York Stock Exchange, ComputerShare, Continental, and Jump Trading.
Source: https://www.youtube.com/watch?v=E12dLcBT2uI
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