Blockchain Association Calls for Modernized Trading Rules

The Blockchain Association has submitted a comment letter to the Securities and Exchange Commission (SEC) urging the rescindment of outdated provisions within Regulation NMS. The association argues that current market rules should promote innovation rather than rely on outdated frameworks.

The Blockchain Association's letter highlights the need to update regulations that were established over two decades ago, specifically Rules 611 and 610(e), which are no longer aligned with current technological advancements in trading. The association stresses that existing rules do not account for the rise of tokenized securities and on-chain trading.

The Blockchain Association encourages the SEC to modernize best execution guidance and recognize the viability of on-chain tokenized securities. This push for modernization reflects a significant shift in how the industry views its regulatory landscape.