TechFlow, July 3 — According to Cointelegraph, the Securities Industry and Financial Markets Association (SIFMA) is urging the SEC to reject exemption requests from crypto firms seeking to offer tokenized stocks, arguing that such significant policy changes should go through a formal "notice-and-comment" procedure. Meanwhile, exchanges like Coinbase and Kraken are actively pursuing the launch of tokenized stock trading in the U.S., although Kraken currently offers the service only outside the U.S., Canada, the EU, the UK, and Australia. SEC Commissioner Hester Peirce has indicated that the agency is considering potential exemptive orders to address regulatory challenges surrounding blockchain-based securities trading. Industry insiders note that resistance from traditional financial institutions aims to protect their market position, as tokenized securities could allow more platforms to offer stock-like trading services.
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