The SEC has finally started dismantling the barriers. If Rule 611 is truly scrapped, the “cake” of on-chain stock trading will need to be reshuffled again—Securitize is poised to profit big while just sitting back.

Benchmark Research says the SEC’s June 11 proposal to repeal Reg NMS Rule 611 and Rule 610(e) could become the most significant U.S.-Canada crypto regulatory change this year, removing the core obstacles to tokenized stock trading on AMMs and promoting on-chain stock trading, lending, and settlement. Securitize stands to benefit most directly, and Coinbase and Galaxy Digital are also expected to benefit. The SEC has opened a 60-day public comment period, with a vote expected in early 2027.