Blockchain Association Backs SEC Repeal of Stock-Market Rules, Sees Lift for Tokenized Securities - bloomingbit

The Blockchain Association submitted a comment letter on August 18 backing the SEC's June proposal to eliminate Rule 611 and Rule 610(e) under Regulation NMS, arguing the 2005-era rules have failed their original purpose and imposed substantial, unnecessary costs on market participants. The association said repealing the rules could simplify the complex market structure, lower trading costs, and help spur the market for tokenized assets, including traditional instruments like stocks traded on blockchain networks.