[SEC Tokenized Stock Exemption Excludes Synthetic Products, Majority of Current $3 Billion Market Not Applicable] According to SEC Chairman Atkins, the innovative exemption for tokenized NMS stocks requires tokenization to be completed either by the issuer itself, on behalf of the issuer, or by an unrelated third party. Synthetic securities are not covered under the exemption. As reported by The Block, an SEC spokesperson stated that synthetic products 'can continue to remain in the wild,' adding that the U.S. market shows little interest in derivative-based approaches. The exemption takes effect on September 17 and will last for five years, expiring on September 17, 2031. Reports indicate that the current tokenized stock market is valued at approximately $3 billion, with the majority consisting of excluded synthetic products.