SEC Explores Blockchain-Based Stock Trading Amid Industry Opposition

According to PANews, the U.S. Securities and Exchange Commission (SEC) is advancing a proposal to enable stock trading on blockchain platforms, akin to cryptocurrency transactions. This initiative has reportedly faced significant opposition from traditional financial entities, including Citadel Securities. SEC staff are currently engaging with industry stakeholders to refine the proposal's details and compliance pathways. However, the specific rules and timeline for implementation have not yet been disclosed. This effort could potentially transform market infrastructure and the clearing and settlement processes.