Hester M. Peirce: Innovation exemption only applies to on chain stock trading and has nothing to do with DeFi

SEC Commissioner Hester M. Peirce issued a statement stating that the SEC approved "Innovation Exemption" allows "tokenized securities venues" (TSVs) to trade NMS stocks on the chain and exempts TSVs and specific liquidity providers from the definitions of "exchange" and "distributor". This exemption is open to US entities, and the issuer may choose to withdraw. Hester M. Peirce emphasized that this policy aims to provide a framework for on chain stock trading and is not related to DeFi. Peer to peer trading of smart contracts that do not require licenses does not require such exemptions.