TechFlow news, September 30: The U.S. Securities and Exchange Commission is developing a plan to enable stock trading on blockchain technology similar to that used for cryptocurrencies.
This move is a key part of the Trump administration's pro-cryptocurrency regulatory agenda and could eventually allow investors to purchase tokens representing shares in companies like Tesla and Nvidia on cryptocurrency exchanges. Currently, SEC staff are discussing the proposal with industry representatives.
Companies including Coinbase (COIN.O) and Robinhood (HOOD.O) are actively pushing regulators to approve the plan quickly so they can begin stock trading on blockchain platforms. However, the initiative faces strong opposition from traditional financial institutions that have established profitable business models within the existing market structure. (Jinshi)
