SEC plan to scrap ‘Rule 611’ a boon for tokenized US stocks: Galaxy
Cointelegraph 2026-06-12 06:44:20
Context: The US Securities and Exchange Commission (SEC) has proposed a plan to modify or abolish 'Rule 611', a regulation governing stock orders and quotes. This move has significant implications for the tokenized stock market, particularly for decentralized platforms. Galaxy, a prominent player in the digital assets space, has expressed its support for the plan, citing potential benefits for tokenized US stocks.
Key Facts
- Galaxy's Alex Thorn has stated that the proposed plan to scrap 'Rule 611' would remove a major barrier to tokenized stocks trading on decentralized platforms, indicating that the regulation has been a significant obstacle to the growth of this market segment.
- The SEC's plan to modify or abolish 'Rule 611' is aimed at promoting the trading of tokenized stocks on decentralized platforms, which are expected to benefit from increased flexibility and reduced regulatory burdens.
- The specific details of the proposed plan, including any potential exemptions or modifications to the existing rule, have not been explicitly stated in the article, but the overall direction of the SEC's proposal is clear.
- Galaxy, as a key player in the digital assets space, is likely to be closely involved in the development and implementation of any new rules or regulations governing tokenized stocks.
- The article does not provide any information on the potential timeline for the SEC's plan to come into effect or the level of public support for the proposal.