PodcastBanklessSeptember 21, 2026
How Robinhood is using the SEC's New Innovation Exemption | Johann Kerbrat
The SEC's five-year tokenization exemption could let Robinhood bring its 1:1-backed stock-token products onshore, but volume caps and state licensing remain unresolved.
- SEC innovation exemption: Announced the day of recording, it gives tokenization a 5-year US pathway but caps eligible asset counts and trading volumes, and state-by-state licensing still fragments compliance.
- Weekend trading dominates: 70% of Robinhood stock-token volume happens outside normal exchange hours; a single day saw $1.2B in volume, with many days over $500M.
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