The U.S. Securities and Exchange Commission (SEC) Grants New Official Approval for Crypto Use
The U.S. Securities and Exchange Commission has officially approved a rule change proposal submitted by the New York Stock Exchange aimed at creating a new trading mechanism for “tokenized securities.”
The proposal, outlined in document No. 34-105260, is considered a significant step toward integrating traditional finance with blockchain technology.
According to the proposal, the New York Stock Exchange plans to introduce a new rule called “Rule 7.50,” allowing eligible securities to be traded both in traditional and tokenized forms on blockchain infrastructure. This framework will be implemented as part of a DTC pilot program under the Depository Trust & Clearing Corporation.
In the new system, tokenized securities will have the same trading identifier (CUSIP) and ownership structure as traditional shares, ensuring full fungibility between the two forms. Additionally, from a matching engine perspective, tokenized assets will follow the same priority rules as traditional equities and will not face disadvantages in order execution.
Market participants will be able to choose blockchain-based settlement using a “tokenization flag” when placing orders. Technical and operational processes will be handled by authorized custodians.
The NYSE proposal goes beyond just trading mechanics. The exchange is also introducing changes to order queueing, routing, and clearing rules to enable seamless integration of tokenized securities into the existing market infrastructure.
See also: "JPMorgan: the CLARITY Act in the U.S. is close to a final breakthrough"
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