The U.S. Securities and Exchange Commission (SEC) is advancing an "innovation exemption" framework that could allow certain assets to be traded on blockchain, sparking debate over the risks and benefits of tokenized stocks. This framework has led to claims that individuals can trade stocks like Tesla around the clock, but experts caution that these are not traditional stocks but rather "receipts" or "contracts for difference" issued by platforms, lacking shareholder rights such as dividends or voting. The SEC's move has drawn attention to the potential risks of 24/7 trading, including the absence of circuit breakers that prevent panic-driven sell-offs in traditional markets. Additionally, the liquidity of these markets remains a concern, with high slippage and volatility due to their relatively small size. While major institutions like Blackstone and JPMorgan focus on compliant tokenized U.S. Treasuries to improve settlement efficiency, retail investors are warned against the speculative nature of tokenized stock derivatives offered by crypto platforms.