The U.S. Securities and Exchange Commission (SEC) has approved a rule change allowing Nasdaq to support trading in Tokenize stocks – another sign that traditional finance and crypto are increasingly merging.
According to the published documents , eligible parties will be able to settle transactions in Token within a pilot program operated by Depository Trust Company (DTC), a unit of DTCC.
This change allows members participating in the pilot program to choose the "settle" option for trading Tokenize shares. Tokenize shares will share the same Order Book and order matching sequence as traditional shares. At the same time, Tokenize shares must ensure that shareholders enjoy all the rights equivalent to those of a regular stock.
Under Chairman Paul Atkins, the SEC is pushing several avenues for developing regulations related to crypto, including exploring the possibility of creating an “innovation exemption” for on-chain securities. However, the agency remains cautious: Tokenize securities must still comply with existing securities laws.
Listing a " Tokenize copy" of traditional stocks on a major US exchange is XEM as a significant and practical step that could pave the way for future on-chain market infrastructure. Until now, most Tokenize stock products have primarily been available to users outside the US, through platforms that aim to help crypto investors access stocks like Tesla or Apple.
This decision also follows the push for Tokenize from both crypto companies and traditional financial institutions. In December, the SEC allowed DTCC to conduct a pilot program to Tokenize certain asset classes on approved blockchains . The New York Stock Exchange (NYSE) also stated that it is XEM platforms for trading and settling Tokenize securities, including the possibility of extending trading hours.
However, the Tokenize trend still faces opposition from some groups within traditional finance, who argue that stricter legal frameworks are needed for blockchain-based securities.
The SEC filing does not specify how long the pilot program will last.
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The article "SEC approves Nasdaq's Tokenize stock" first appeared on CoinMoi .
