According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) issued a press release on September 17, 2026, establishing a five-year regulatory sandbox that allows for the trading of tokenized securities on public blockchains. For the first time, registered brokerage traders and alternative trading systems can trade tokenized U.S. stocks without being registered as national exchanges, provided that they operate within a set of structural constraints. The maximum number of securities per trading venue is 75, and the trading volume must not exceed 0.25% of the average daily trading volume of any listed security. This sandbox is designed to provide a controlled testing environment for the trading of tokenized securities in order to test their performance under real market conditions.