SEC Moves to Scrap Rule 611: Here’s What It Means for Tokenized Stocks

The US Securities and Exchange Commission (SEC) has proposed rescinding Rules 611 and 610(e) of Regulation NMS, the trade-through rule that has shaped US equity market structure since 2005. Galaxy Digital’s Head of Firmwide Research, Alex Thorn, called the rule “one of the biggest structural barriers” to tokenized US equities trading in decentralized finance (DeFi).