📈 The SEC just gave tokenized stocks a real rulebook

"Tokenized stocks" have mostly meant synthetic trackers — price exposure, no actual ownership. The SEC is drawing the line: a qualifying token must carry the same voting rights and dividends as the underlying share.

Under a new five-year sandbox, Tokenized Securities Venues can trade real U.S. stocks through smart contracts — no full exchange registration required. Top-tier names are capped at 75 per venue and 0.25% of daily volume. Issuers get a veto over third-party tokenization of their shares.

Tesla does ~40 million shares a day — a TSV could handle ~100,000 tokenized ones. Modest by design. More at CoinDesk.