Regulation· ★★★★· neutral·

Better Markets Challenges SEC Exemptive Order for Tokenized Trading Venues

  • —Better Markets says the APA requires formal rulemaking, not the September 17, 2026 exemptive order
  • —Venues could launch after a website notice and SEC filing, with no affirmative SEC or FINRA approval
  • —The group warns of market fragmentation and possible breaches of national best bid and offer rules
  • —It questions the legal basis for trading Bitcoin and algorithmic stablecoins alongside tokenized stocks
Why it matters: The dispute will shape whether the SEC regulates tokenized equities through formal rulemaking or targeted exemptions, setting the template for on-chain equity trading in the US.
#BTC
Source: The Crypto Times
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