Securitize President Brett Redfearn said the Securities and Exchange Commission delayed its planned innovation exemption for tokenized securities because releasing it could have complicated efforts to secure votes for the Clarity Act.
Redfearn said the exemption had been expected on Aug. 14 but was pulled back as lawmakers worked to line up support for the market structure bill.
The SEC proposed its separate Regulation Crypto Assets rule on Aug. 18.
"I think it could have messed with some of their clarity politics," Redfearn told The Block's Kelvin Sparks at the Wyoming Blockchain Symposium.
"If you're in a world where you're trying to line up the votes to get Clarity across the line, you don't want to mess with clarity politics." Redfearn expects the innovation exemption to come after the Clarity Act, "probably early October." He said it is expected to cover tokenized securities traded through a new type of venue that would not require a broker-dealer, registered alternative trading system (ATS), or exchange.
