Blockchain Association urges SEC to drop 2 trading rules

The Blockchain Association urged the U.S. Securities and Exchange Commission to rescind two provisions of Regulation NMS, arguing that rules written for conventional stock exchanges could restrict tokenized securities markets. Summary Blockchain Association urged the SEC to rescind Regulation NMS Rules 611 and 610(e) as proposed. Rule 611 prevents trades through protected quotations displaying better prices across registered U.S. trading venues. Rule 610(e) restricts national exchanges from displaying quotations that lock or cross protected markets nationwide. The Association argues existing rules can obstruct tokenized markets using automated and continuous blockchain settlement. The SEC comment deadline was August 17, while commissioners have not approved any final rescission. The Washington based industry group published its comment letter on Aug. 18 supporting the proposed repeal of Rules 611 and 610(e). The SEC issued the proposal on June 11 under file number S7-2026-20. The proposal remains under consideration. Neither rule has been repealed, and the Commission has not announced a date for voting on a final version. Blockchain Association backs repeal of both rules Rule 611, ...