Blockchain Association endorses SEC proposal to eliminate 2005 NMS rules, arguing they obstruct tokenization and asset modernization.
Regulation & Gov ·
The Blockchain Association has endorsed a Securities and Exchange Commission proposal to eliminate rules from 2005, contending that the rules have "failed to achieve their stated purposes." The industry group frames the elimination as beneficial for tokenization and asset modernization efforts.
The NMS rules in question date to 2005 and govern market structure requirements. The Blockchain Association's position is that these regulations obstruct developments in blockchain-based asset issuance and trading infrastructure. The SEC proposal to remove them reflects broader regulatory consideration of whether older market-structure mandates remain suited to contemporary financial markets and emerging technologies.
The endorsement signals alignment between a major crypto industry body and the SEC's direction on this particular regulatory matter, though it remains unclear what timeline the agency intends for implementation or whether other market participants and regulators share the same assessment of the rules' utility.