Nasdaq Seeks SEC Nod To Allow Tokenized Stock Trading

  • Nasdaq says tokenized shares could trade with the same priority as traditional equities.

Nasdaq filed with the SEC on Monday to permit tokenization and blockchain listing of stocks, a move that would let customers trade tokenized shares with the same priority as traditional equities.

In its Monday filing, Nasdaq said markets can adopt tokenization while “continuing to provide the benefits and protections of the national market system.” President Tal Cohen added: “Wholesale exemptions from the national market system and related protections are neither necessary to achieve the goal of accommodating tokenization, nor are they in investors’ best interests.”

The submission arrives less than a week after the SEC revamped aspects of its crypto handling framework, including potential amendments affecting crypto-linked stocks, according to the notes provided.

Following the news, Coinbase has announced plans to launch tokenized stocks and prediction markets for US users “in the coming months.” Meanwhile, Kraken said earlier this year it will offer US equity tokens in select non-US markets.

The Nasdaq Composite rose by more than 100 points and crypto’s total market cap gained around 2% on the day following the news.


Information for this story was found via Watcher Guru and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Avino Q2 Earnings: Steady As She Goes

MEG Energy: Cenovus Comes In With $7.9 BILLION Offer

Orla Mining Q2 Earnings: Musselwhite Changes Everything

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Glass House Brands Accelerates Acquisition Of Greenhouse Assets

Glass House Brands (NEO: GLAS.A.U) is accelerating the timeline for closing on its greenhouse. The...

Tuesday, August 3, 2021, 08:13:27 AM

Medmen: Canaccord Reiterates $0 Price Target, Sell Rating

On December 7th, Medmen Enterprises’ (CSE: MMEN) reported first-quarter fiscal 2021 financial results. Medmen reported...

Wednesday, December 9, 2020, 10:50:51 AM

Reddit CEO Has Already Sold Nearly Half His Shares Less Than A Week Into IPO Debut

Barely a week into going public, Steve Huffman, the Chief Executive Officer and President of...

Thursday, March 28, 2024, 09:41:53 AM

Kentucky Man Lucks Out with Hoard of Civil War-Era Gold Coins

A Kentucky man stumbled upon a hidden treasure while excavating his field earlier this year....

Tuesday, July 11, 2023, 04:26:00 PM

U.S. Department of Energy Unveils 2023 Critical Materials Assessment

The US Department of Energy (DOE) has recently released its highly anticipated 2023 Critical Materials...

Thursday, August 3, 2023, 07:34:00 AM