According to CoinMeta, Taylor Lindman, the chief legal advisor of SEC Crypto Task Force, stated that under the newly introduced innovative exemption, the first batch of tokenized stock trading platforms could begin to announce their operational plans as early as next quarter. SEC has already received interest from multiple companies expressing their desire to participate. This exemption is valid for 5 years and allows eligible platforms to trade tokens related to tokenized U.S. listed stocks on public, license-free blockchains, using licensed AMM. These tokens must retain traditional shareholder rights such as dividends and voting. Hester Peirce, a member of the SEC committee, indicated that the current trading volume limit is sufficient to support commercial operations, rather than being limited to small-scale trials, and viewed this exemption as a transitional arrangement before establishing long-term rules.