While the Clarity Act wasn't passed by the senate a few days ago,
The U.S. 🇺🇸 SEC(Securities and Exchange Commission) allowed TSV(Tokenized Securities Venues, which are Tokenized Securities Exchanges) to provide a trading service like AMM(Automated Market Makers) on public blockchains, for examples, ETH(Ethereum), SOL(Solana), TRX(Tron) and BASE, for the next 5 years.
I encountered a De-Fi(Decentralized Finance) in 2020, and studied hard about it like impermanent loss, LP(Liquidity Provision), AMM, etc. I was shocked by it.
Now, the U.S. SEC mentioned AMM for the first time. I was really schocked by it. It seems that they really understand it rather than public.
When I read their announcement, I thought it would be Uniswap or Pancakeswap. But it wasn't. Precisely, permissioned AMM.
I expect that U.S. stocks will be traded on publc chains next year. For now, U.S. stocks, being traded on Binance exchange, are tokenized stocks that haven't voting rights. So, it would be different from now.
Additionally, it can't make synthetic tokens like TSLA-USDT. As far as I understand, AMM is like LP(Liquidity Provision) platforms or orderbook-based DEX(Decentralized Exchange)s. Do they persue orderbook-based exchanges? 🤔 For now, it seems that the AMM is an orderbook-based exchange.