BTCS said its Imperium DeFi unit has completed preparatory compliance steps for potential reliance on the SEC’s Covered Firm exemption, including submitting the required notice and publishing relevant disclosures. The exemption provides conditional temporary relief from the dealer definition for qualifying firms supplying liquidity through automated market maker pools on eligible tokenized-securities venues. It does not constitute SEC approval, and Imperium has not received a broker-dealer license. Tokenized-equity liquidity provisioning has not started because a qualifying Tokenized Securities Venue must first become operational. Imperium currently deploys crypto assets across DeFi (decentralized finance) lending and liquidity markets, while BTCS is positioning the business to extend that activity to blockchain-based tokenized stocks. The announcement centers on regulatory and infrastructure readiness rather than current revenue.