BTCS readies Imperium for SEC covered-firm exemption for tokenized-equity liquidity provisioning
BTCS•BTCS filed an SEC notice and posted disclosures to prepare Imperium to rely on a temporary exemption dated Sept. 17, 2026, which offers qualifying automated market maker liquidity providers relief from dealer registration for five years after Federal Register publication.
1. Activity has conditions
Imperium cannot begin liquidity provisioning until a qualifying tokenized-securities venue operates under a separate SEC venue exemption. The permitted activity is limited to tokenized NMS stocks in automated market maker pools, using proprietary capital and without custody of customer assets; the SEC is seeking public comment, and the exemption may change.
