Bitcoin Surges Past $85,000 as SEC Clears Tokenized Stocks for Onchain Trading

The price of Bitcoin has surged to over $85,000 following a decision by the US Securities and Exchange Commission (SEC) to allow onchain trading of tokenized U.S. stocks.

The SEC issued an innovation exemption that allows specialized trading platforms, known as tokenized securities venues, to operate without registering as traditional exchanges for five years.

Under the terms of the exemption, each venue can list up to 75 large US stocks or 250 less liquid names, with volume capped at 0.25% of daily turnover for large caps and 2.5% for smaller ones.

The move is expected to bring significant demand from outside the blockchain space, potentially driving further growth in the crypto market.