Wall Street Is Reportedly Pushing Back On SEC’s Push For Tokenized Stocks
Synopsis
According to a report by The Information, the SEC has been engaging with industry representatives about the initiative, which is a key priority of the Trump administration’s crypto-friendly regulatory agenda.
The Securities and Exchange Commission (SEC) is reportedly considering a plan to allow stocks to trade like cryptocurrencies on the blockchain, but traditional financial firms, including Citadel Securities, are pushing back.
According to a report by The Information, citing sources familiar with the matter, the SEC has been engaging with industry representatives about the initiative, which is a key priority of the Trump administration’s crypto-friendly regulatory agenda. If approved, the plan would let investors buy tokenized versions of shares in companies such as Tesla (TSLA) and Nvidia (NVDA) on cryptocurrency exchanges.
U.S. equities traded in the red on Tuesday morning ahead of the potential U.S. government shutdown. The SPDR S&P 500 ETF (SPY) was down 0.16%, the SPDR Dow Jones Industrial Average ETF (DIA) slipped 0.03%, and the Nasdaq-100 tracking Invesco QQQ Trust (QQQ) moved 0.18% lower. However, retail sentiment around QQQ on Stocktwits improved to ‘bullish’ from ‘neutral’ territory over the past day.
Get updates to this developing story directly on Stocktwits.<
Read also: Bitcoin Pulls Back To $112K Ahead Of Potential US Government Shutdown
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.