On March 19, the U.S. Securities and Exchange Commission formally approved Nasdaq rule modifications this morning, permitting pilot trading of securities in "tokenized form" on its exchange, marking a crucial step for traditional capital markets toward blockchain.

According to the plan, qualifying stocks and ETFs can undergo clearance and settlement in the form of on-chain tokens within the existing trading system, while sharing the same order book with traditional stocks, identical trading priority, and fully consistent shareholder rights. This pilot advances based on the Depository Trust & Clearing Corporation (DTC) tokenization initiative, allowing investors to choose whether to settle in tokenized form when placing orders, with the system completing on-chain processing after the trade.

Nasdaq stated that aside from settlement methods, trading rules, market data, fee structures, and regulatory monitoring remain unchanged, with tokenized securities remaining fully subject to the current securities law framework. #Gate13周年全球庆典