Odaily Planet Daily reports: Galaxy’s Head of Research posted on X that the U.S. Securities and Exchange Commission has issued an "innovation exemption" to establish a pathway for on-chain secondary trading of tokenized stocks. The exemption will be effective from September 17, 2026, to September 17, 2031, and applies to specific tokenized securities exchanges that provide licensed automated market makers and liquidity pools; such exchanges must be deployed on public, permissionless blockchains, but trading will be restricted to verified or authorized participants only.
Eligible tokens must correspond to actual U.S. National Market System stocks and grant shareholders the same rights as traditional stocks; this exemption does not cover primary issuances, synthetic exposures, or products lacking legal or beneficial rights to the underlying stock. Galaxy stated that it is evaluating the next steps for enabling on-chain secondary trading of GLXY.