Robinhood Markets shares gained about 6% on Thursday, September 17, 2026, following the SEC's publication of new rules for trading digital versions of securities. The regulator proposed a five-year temporary exemption regime that will allow trading of tokenized stocks on specifically designated platforms.
The new scheme provides for two types of exemptions from the requirements of the Securities Exchange Act of 1934. Platforms for tokenized securities (TSV), if certain conditions are met, will not be considered exchanges, and individual liquidity providers will be exempt from dealer status. At the same time, TSV must be registered in the U.S., comply with OFAC sanctions requirements, and establish participant admission rules. Tokenized securities must also preserve the rights of common stockholders, including dividends and voting rights.
The mechanism also includes additional restrictions. Issuers will be able to object to the listing of their securities on TSV and block such trading. The SEC notes that the temporary regime will allow the market to test the infrastructure for tokenized stocks while the regulator considers further rule changes. The initiative is related to the earlier Project Crypto program aimed at adapting the American financial system to the use of blockchain technologies.
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