SEC Nears Tokenized Stock Exemption as Crypto Debates “Real” Onchain Equity

SEC Nears Tokenized Stock Exemption as Crypto Debates “Real” Onchain Equity

From Crypto In America by Crypto In America

May 22, 2026 · 56 min

About this episode

The episode discusses the SEC's potential tokenization exemption and the debate over onchain equity versus synthetic exposure in the crypto space.

With reports that the SEC may be close to releasing its long-awaited tokenization innovation exemption, debate over the best way for investors to access stocks on blockchain is heating up, with the “onchain equity” versus “synthetic exposure” conversation dominating crypto circles this week. The team breaks down the merits of both models with Robert Leshner of Superstate. Plus, Caitlin Long joins the show to discuss the Federal Reserve’s latest steps toward expanding crypto firms’ access to the Fed’s payment rails and the SEC repealing its decades-old "gag order," and Simon Babakhani of Zebec Network talks about his mission to crack open the $11 trillion global payroll market.

People in this episode

Guests: Robert Leshner, Caitlin Long, Simon Babakhani

Topics covered

  • tokenization
  • onchain equity
  • synthetic exposure
  • crypto regulation
  • Federal Reserve
  • global payroll market

Keywords

  • SEC
  • tokenized stock
  • blockchain
  • crypto firms
  • payment rails
  • payroll market
  • innovation exemption

Mentioned in this episode

Organizations: Superstate, Zebec Network, Federal Reserve, SEC

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