Wu Shuo learned that Hester Peirce, a Commissioner of the U.S. Securities and Exchange Commission, said that there is an excessive interpretation of the proposed “Innovation Exemption” for on-chain tokenized trading of U.S. National Market System stocks. She emphasized that the exemption is expected to be opened only to a limited extent, and it will apply only to on-chain digital representations of stocks that are currently tradable in the secondary market, not including synthetic assets.

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