OKXICE TSV, Two Others Seek SEC Exemption for US Tokenized Securities Trading
Summary
- Three firms, including OKXICE TSV, notified the SEC that they plan to operate a tokenized securities trading platform using a regulatory exemption.
- The firms are seeking a temporary exemption from the application of the Exchange Act’s definition of an exchange under the SEC’s innovation exemption, introduced on Sept. 17.
- The SEC said inclusion on the list does not mean a firm meets the definition of a TSV or satisfies the exemption conditions, and that it is separate from the approval process.
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Three firms, including OKXICE TSV, have notified the U.S. Securities and Exchange Commission that they plan to operate tokenized securities trading platforms under the agency’s regulatory exemption framework.
According to the SEC’s website on Oct. 22, OKXICE TSV submitted written notice of its intent on Oct. 4. TSV LLC previously filed on Sept. 23, while Kepas Corporation, which operates Perpetuals.com, was added to the list on Oct. 14.
The firms are seeking to use the SEC’s “innovation exemption,” introduced on Sept. 17. The measure temporarily exempts qualifying tokenized securities venues, or TSVs, from the application of the Exchange Act’s definition of an exchange.
To begin operations, a platform must post a notice containing required information on its website at least 30 days in advance. Within one business day of that posting, it must also separately submit its contact details and the notice’s web address to the SEC.
The notice of intent is separate from the approval process. The SEC said inclusion on the list does not mean a firm meets the definition of a TSV or satisfies the conditions for the exemption.
