The U.S.
Securities and Exchange Commission (SEC) is reportedly moving closer to allowing crypto firms to offer blockchain-based stocks.
The crypto industry is optimistic about the potential of tokenized stocks to transform the stock markets.
The new model could enable 24/7 trading and instant settlement, thereby increasing liquidity and reducing transaction costs, Reuters reported on Wednesday.
SEC Chair Paul Atkins is expected to introduce an "innovation exemption" in the coming weeks that would allow companies to venture into new digital asset business models without strictly adhering to all of the SEC's disclosure and investor-protection rules, according to the report.
