[SEC Innovation Exemption: First Batch of Tokenized Stock Trading Platforms May Announce Operational Plans Next Quarter] According to a report by Crypto In America on September 22, Taylor Lindman, Chief Legal Advisor of the SEC Crypto Task Force, stated that under the newly introduced innovation exemption, the first batch of tokenized stock trading platforms may announce their operational plans as early as next quarter. The SEC has already received expressions of interest from multiple companies. This exemption, which lasts for 5 years, allows eligible platforms to trade tokenized U.S.-listed stocks on public, permissionless blockchains via permissioned AMMs and liquidity pools. The related tokens must retain traditional shareholder rights such as dividends and voting. SEC Commissioner Hester Peirce noted that the existing trading volume cap is sufficient to support commercial operations rather than being limited to small-scale experiments. She also views this exemption as a transitional arrangement before establishing long-term regulations.