The U.S. SEC plans to abolish key NMS rules, potentially significantly easing on-chain US stock trading.


On June 12, the U.S. SEC proposed to revoke two core rules within Regulation NMS—Rule 611 and Rule 610(e)—to simplify market structure and promote the long-term development of the U.S. capital markets.
SEC Chairman Paul Atkins stated that the proposal aims to reduce trading costs and drive continuous evolution of market structure through competition and market mechanisms.
Next, three things need to be monitored: whether relevant funds continue to flow in, whether on-chain trading volume and holdings keep expanding, and whether project teams or regulators provide new confirmation information.
A single news flash can only indicate that sentiment has been ignited; subsequent data will determine whether it can solidify into a trend.
Risks should also be considered: these rules were established in 2005, with Rule 611 requiring trades to execute "best bid and offer protection," prohibiting transactions at prices worse than those on other trading venues; Rule 610(e) prohibits "locked or crossed quotes."
Analysts point out that this adjustment could have structural impacts on tokenized US stocks and DeFi trading.
$nms #defi #rwa #链上数据 #Regulation
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