For too long, regulatory uncertainty has prevented responsible, yet critical innovation from taking root in the United States. It has been a priority of my chairmanship to reverse this trend. Though temporary, the Innovation Exemption is a principled, structured grant of relief designed to resolve genuine legal uncertainty, while providing investor protections and upholding market integrity standards. Through this order and a number of ongoing initiatives, we will ensure that America remains the world’s premier destination to build the next generation of financial infrastructure.