According to CoinMeta, former Governor of New York State and member of the OKX board of directors, Andrew Cuomo, the tokenization of the U.S. financial market is accelerating, and the regulatory system needs to keep up with the pace of technological and market development. On September 17, the U.S. Securities and Exchange Commission (SEC) introduced a five-year temporary "Innovation Exemption" framework that allows eligible on-chain trading platforms to trade tokenized stocks of certain U.S. listed companies under specific conditions. This framework requires participants in the trading platforms to obtain permission; tokenized stocks are to grant investors the same rights and benefits as traditional stocks. Smart contracts must be audited and deployed on public chains. When the stocks they represent are suspended from trading, the corresponding tokenized stocks must also cease trading. Additionally, on September 15, the U.S. Senate was unable to advance the Digital Asset Market Structure Act, and there are still disagreements regarding comprehensive digital asset regulatory legislation.