SEC Proposal to Repeal Reg NMS Rules Could Boost Tokenized Stocks, Says Galaxy Digital Exec
Summary
Galaxy Digital's research head, Alex Thorn, highlighted an SEC proposal to repeal parts of Regulation NMS, including Rule 611. Thorn stated that Rule 611 is a major obstacle to trading tokenized stocks in DeFi, as automated market makers cannot comply. The potential repeal of this rule could remove a significant regulatory barrier, potentially enabling growth in the tokenized stock market, which is a relevant area for Galaxy Digital's operations.
At the time of this announcement, GLXY was trading at $33.60 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $13B. The 52-week trading range was $16.43 to $45.92. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Binance News.