According to Wu Blockchain, Grayscale's Head of Research, Zach Pandl, stated that the U.S. Securities and Exchange Commission (SEC)'s recent 'Innovation Exemption' directive could fundamentally transform the previous reliance on offshore 'wrapped derivatives' for tokenized U.S. stock trading. This move is expected to pave the way for real tokenized stocks, with full shareholder voting and dividend rights, to be integrated into the U.S. regulated financial system. The exemption order, valid for 5 years, specifically relaxes two core registration requirements: qualified tokenized trading platforms are not required to register as traditional securities exchanges, and qualified liquidity providers are not required to register as broker-dealers. Grayscale believes this marks a significant step in proving that on-chain trading infrastructure can fully align with compliance regulations and investor protections, potentially driving Congress toward broader bipartisan legislative progress in the future. https://www.(wublock123.com)/news/grayscale-research-head-sec-exemption-tokenized-us-stocks-regulated-finance-68955