The baby steps of on-chain securitization, Peirce is managing market expectations.

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MeNews
SEC Commissioner: On-chain tokenized stocks' "innovative exemption" applies only to currently tradable stocks in the secondary market
ME News Report, May 22 (UTC+8), U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce stated that she appreciates everyone's interest in on-chain trading tokenized NMS stocks (National Market System stocks), but she does not agree with the exaggeration. The exemption is limited and only applies to digital representations of genuine underlying equity securities, meaning the same underlying stock that investors can purchase on the secondary market, not synthetic products. (Source: BlockBeats)
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