Michael Saylor Says SEC Innovation Exemption Could Enable 24/7 Onchain Trading for Tokenized MSTR and STRC

Strategy Executive Chairman Michael Saylor said a new U.S. Securities and Exchange Commission (SEC) innovation exemption could allow tokenized versions of the company’s securities to trade onchain around the clock. The comments mark a potential test of Saylor’s long-standing push to bring corporate credit and equity instruments onto blockchain networks.

Saylor Links SEC Exemption to Tokenized Securities

Saylor made the claim in a public statement, arguing that the SEC’s new exemption clears the way for tokenized versions of MSTR and STRC to trade continuously outside traditional stock-market hours.

MSTR is the stock ticker associated with Strategy, the business-intelligence company that has made bitcoin its primary treasury asset. STRC refers to one of the company’s preferred securities. Tokenization would represent ownership or economic exposure to those instruments through blockchain-based tokens.

Unlike securities traded on conventional exchanges, blockchain-based markets can operate continuously, subject to the rules of the platform, the applicable securities framework and available market liquidity. Saylor’s comments indicate that Strategy-linked assets could become an early example of this model if the relevant regulatory and market conditions are met.

Regulatory Scope Remains Unclear

The statement did not provide details about the exemption, identify the entities that would issue or trade the tokens, or explain the specific legal conditions attached to the SEC’s action. It also did not establish that all tokenized versions of MSTR or STRC are currently approved for unrestricted trading.

Regulatory exemptions typically apply only within defined parameters. Issuers and trading platforms may still need to comply with registration, disclosure, investor-protection, custody and market-integrity requirements. The availability of 24/7 trading would also depend on the structure of the tokenized products and the platforms supporting them.

A Test of Saylor’s Digital Credit Strategy

Saylor has spent the past year promoting the use of blockchain networks to issue and trade digital representations of financial instruments. He has described tokenized securities as part of a broader effort to modernize capital markets and expand access to digital credit products.

If implemented, tokenized MSTR and STRC could provide a live test of whether publicly traded corporate securities can operate across both traditional and blockchain-based markets. The experiment would also highlight the practical challenges of connecting onchain settlement with existing securities laws, exchange infrastructure and investor safeguards.

Further details from Strategy, the SEC or the platforms involved will be needed to determine the exemption’s precise scope and whether tokenized MSTR and STRC will begin trading under the framework described by Saylor.