According to CoinMeta, the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, stated that the SEC will provide conditional exemptions for a period of 5 years to eligible tokenized securities trading venues and certain liquidity providers in order to reduce regulatory barriers for on-chain securities trading. However, synthetic stocks are not allowed to be traded, and listed companies have the right to refuse to have their stocks tokenized. Token holders must also retain traditional shareholder rights such as dividends and voting.