Nasdaq, the world’s second-largest inventory alternate by market capitalization, is searching for regulatory approval from the US securities regulator to listing tokenized shares.
Nasdaq filed a request Monday with the US Securities and Exchange Commission (SEC) asking for a rule change that might enable the corporate to listing tokenized shares.
The alternate operator particularly requested to amend sure guidelines, together with the definition of a safety, to commerce tokenized shares underneath the identical execution and documentation guidelines as conventional securities, supplied the tokenized variations are deemed equal.
According to a report by Bloomberg, Nasdaq’s request with the SEC would transcend a technical rule change because it pertains to the foundations of how shares are issued and settled.
Tokenized property needs to be clearly labeled
One of the adjustments sought by Nasdaq with the SEC is that tokenized property needs to be clearly labeled to make sure that all members, together with these accountable for clearing and settlement, just like the Depository Trust Company, correctly course of these trades.
Additionally, Nasdaq additionally mentioned that tokenized property would have the identical precedence through which the alternate executes that order because it does with conventional shares.
If permitted, US-regulated exchanges, together with Nasdaq, could be approved to listing tokenized shares on their platforms, which may increase liquidity for blockchain-based variations of conventional securities.
This is a creating story, and additional info might be added because it turns into out there.
Magazine: Korean invoice to legalize ICOs, Chinese agency’s Ethereum RWAs thriller: Asia Express
