Blockchain Association endorses SEC proposal to eliminate 2005 NMS rules, citing tokenization benefits and regulatory modernization.
Regulation & Gov ·
The Blockchain Association has backed the Securities and Exchange Commission's proposal to eliminate the 2005 National Market System (NMS) rules, characterizing the decades-old regulations as having "failed to achieve their stated purposes." The endorsement signals the group's support for dismantling a ruleset designed nearly two decades prior, in favor of frameworks that better accommodate modern market structures.
The Association's backing hinges on the regulatory modernization narrative, with tokenization presented as a key benefit that current NMS rules inhibit. Removing these constraints, the argument suggests, would allow digital asset markets to operate more efficiently under updated oversight aligned with contemporary trading infrastructure.
The scope of potential changes remains incompletely defined—it is unclear whether the SEC proposal addresses the full suite of 2005 NMS rules or targets specific provisions, and no timeline for implementation or additional industry responses has been detailed in available material.