According to CoinMeta, Chairman Atkins stated that tokenized NMS stocks eligible for the innovation exemption must be tokenized by the issuer itself or on behalf of the issuer, or by a third party unrelated to the issuer. Synthetic securities are not within the scope of this exemption. A spokesperson for SEC indicated that synthetic securities can continue to remain in the market and noted that there is little interest in the derivatives route in the US market. The exemption takes effect on September 17 and lasts for five years, until September 17, 2031. The current market size of tokenized stocks is nearly $3 billion, with the majority being the excluded synthetic products. (Source: The Block)