Crypto Exchanges
By James Thorp
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Two Types of Tokens, Very Different Rights. Not all tokenized stocks are the same. There are full security tokens, which carry actual legal…
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Who's Pushing Back — and Why. It's not a clean win for anyone. SIFMA and Citadel Securities have both raised concerns, and…
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DTCC and Dinari Enter the Picture. The Depository Trust & Clearing Corporation isn't sitting on the sidelines.
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The SEC is moving toward an "innovation exemption" for tokenized stocks. It's a big shift — one that could let crypto exchanges offer digital securities under lighter rules,…
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The agency's plan sits inside a broader initiative called Project Crypto. Approval from Nasdaq and the New York Stock Exchange to list tokenized equities already came through,…
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Not all tokenized stocks are the same. There are full security tokens, which carry actual legal claims on the underlying asset, and synthetic tokens, which just track prices…
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Kraken's xStocks platform sits in the first camp — it offers 1:1 backed tokenized US stocks, though outside the United States.
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Coinbase and Robinhood are both reportedly waiting for regulatory clearance to enter the tokenized stock space. If the exemption lands, they'd be positioned to move fast.
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There's also the fragmentation angle. A parallel tokenized market running alongside traditional equity markets — but with different rules, different protections, and different…
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See also: Federal Reserve Puts Crypto Under the Microscope as Banking Risks Mount
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SEC Chair Paul Atkins is pushing back on the skeptics. His argument is basically that if the U.S.
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Internal dissent exists at the agency, but the SEC's public position is that legal obligations stay intact — only certain registration requirements get eased during the pilot…
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The Depository Trust & Clearing Corporation isn't sitting on the sidelines. The DTCC is working to integrate tokenized assets into its operations and has plans for limited…
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Dinari is another name worth watching. The company obtained a broker-dealer license specifically to offer blockchain-based shares to U.S. investors.
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See also: Coinbase Takes Stand With Crypto Campaign to 500-Plus Locations Worldwide
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