Christopher Montagano: SEC Innovation Exemption Helps Verify DeFi Efficiency Advantages

Orca's Chief Legal Officer Christopher Montagano stated during South Korea Blockchain Week that the SEC's innovation waiver released on September 17 makes DeFi verify whether blockchain tracks are more efficient than traditional infrastructure. This exemption grants conditional relief for 5 years until September 17, 2031, under which tokenized securities venues (TSVs) and specific LPs can operate tokenized US stock license trading, specifically designed for AMMs, without the need to register as exchanges or traders. Exemption requires compliance with sanctions rules and obtaining the issuer's consent. Orca has been involved in SEC discussions since 2025, and the platform began trading tokenized stocks in November of the same year. (Source: Crypto Briefing)