External ReportingUpdated 2 天前

SEC Tokenized Stock Plan Could Enable 24/7 U.S. Trading

The SEC is developing an innovation exemption for platforms seeking to offer tokenized securities. The framework could let firms trade digital versions of U.S. stocks under federal requirements. Meanwhile, SEC Chair Paul Atkins supports…

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Why This Matters

An SEC innovation exemption for tokenized securities could materially reshape how U.S. equities are traded, settled and supervised. It signals that blockchain-based market infrastructure may move closer to regulated deployment, while leaving key custody, clearing and investor-protection requirements unresolved.

Regulation Context

SEC Crypto Asset Market Structure Rulemaking

JurisdictionUnited States

RegulatorSEC

Statusin progress

Updated12 天前

Open Regulation Tracker

Layer Index

Neutral

Layer Index

↓ 4 pts in 24h

The proposed structure could allow continuous trading and faster blockchain settlement for eligible securities. It could also connect digital share records with established market systems and securities rules. However, the SEC still must address custody, surveillance, clearing, settlement, and investor protection.

The agency recently canceled a meeting that could have covered parts of its crypto regulatory agenda. Officials cited a scheduling issue, and the cancellation did not change requirements. Therefore, platforms seeking tokenized stock markets must continue operating within current regulations.

24/7 Trading Could Reshape Equity Markets

Tokenized stocks could extend trading beyond the fixed hours used by traditional U.S. exchanges. Blockchain networks can process transactions continuously, supporting trading at night, on weekends, and on holidays. Consequently, eligible markets could operate on schedules that differ from conventional venues.

The technology could shorten settlement times by recording ownership changes directly on blockchain networks. Yet tokenization does not remove market duties, because securities still require safeguards and clear ownership rights. Moreover, firms must determine how digital shares connect with brokers, custodians, clearing systems, and infrastructure.

The SEC has supported experiments involving blockchain-based securities infrastructure. Its no-action relief for a DTCC pilot covers selected equities, ETFs, and Treasury securities. Nasdaq has also developed infrastructure for trading and settlement of tokenized securities.

Wall Street Builds Tokenization Infrastructure

Financial firms and crypto companies are building systems that could support blockchain-based securities markets. These efforts focus on trading, custody, settlement, and links between digital networks and financial infrastructure. As a result, tokenization is moving beyond experiments and into market structure discussions.

The SEC is also considering changes that could affect trading models and competition. An August 11 submission from Ondo Finance backed proposed Regulation NMS changes affecting alternative market structures. Those changes could create more room for trading models outside traditional order books.

Tokenized shares would remain securities when blockchain networks record their ownership. SEC materials have distinguished between issuer-backed tokens and third-party models, which can affect shareholder rights. Therefore, the exemption could shape how firms issue, trade, custody, and settle U.S. equities.

This article was originally published as Sec Tokenized Stock Plan Could Bring 24/7 Trading to U.S. Markets on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

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