SEC Loosens Regulatory Grip on US Stock Market

The traditional stock exchange is becoming obsolete, according to Robinhood CEO Vlad Tenev. The SEC's new 'Innovation Exemption' has effectively gutted the legal definition of an exchange, allowing tokenized stocks to trade 24/7 with instant settlement via blockchain algorithms.

This exemption means that these platforms are exempt from dealer-registration requirements, which is seen as a fundamental dismantling of the guardrails of the U.S. equity market in the name of innovation.

The question remains whether this is the future of fair access or a dangerous regulatory shortcut.