The U.S. Securities and Exchange Commission (SEC) may soon introduce new rules that make it easier for companies to issue tokenized securities using blockchain technology. Commissioner Hester Peirce revealed in a May 8 speech that the agency is reviewing an “exemptive order” that could free certain firms from outdated regulatory burdens, signaling a major shift in crypto policy.

If approved, this change would allow decentralized exchanges (DEXs) and similar blockchain-based platforms to issue, trade, and settle securities without registering as broker-dealers, exchanges, or clearing agencies. This would mark a notable departure from past enforcement efforts, including the SEC’s legal actions against platforms like Uniswap for failing to register under traditional securities laws.

Peirce emphasized that companies should not be forced to follow rules written before blockchain even existed. However, firms would still be expected to adhere to anti-fraud measures and ensure transparency through disclosures and proper recordkeeping.

This policy shift comes amid a broader crypto-friendly pivot under the new SEC leadership appointed by President Donald Trump. Former SEC Chair Gary Gensler oversaw more than 100 lawsuits against crypto companies. But since Trump’s nominee Paul Atkins took over on April 21, the agency has narrowed its focus and reduced its crackdown on the industry.

Recent SEC guidance has clarified that memecoins with no inherent value, and stablecoins used purely for payments, do not qualify as securities. These updates hint at a more open regulatory landscape for blockchain innovation.

The proposed exemption, if passed, could offer a lifeline to crypto startups long burdened by complex SEC compliance — and potentially usher in a new era of blockchain finance in the U.S.