SEC is creating a system to let stocks like Tesla and Nvidia trade as blockchain tokens
The SEC is preparing a new system that would allow company shares to trade as tokens on blockchain networks, according to a report by The Information.
This project is described as part of the Trump administration’s crypto‑focused regulatory agenda and would let investors buy tokens tied to stocks such as Tesla and Nvidia on exchanges. The plan mirrors how digital currencies are exchanged today, but would apply to listed shares.
Sources familiar with the talks allegedly say SEC staff are already speaking with market players about the framework. Companies like Coinbase and Robinhood are lobbying for quick approval so they can offer blockchain‑based stock trading directly to their customers.
But big banks and brokers are opposing the idea because it threatens the current trading infrastructure that produces large profits for them.
SEC acts on token plan while halting QMMM stock
While the SEC is working on its blockchain plan, it has also suspended trading in QMMM Holdings Ltd. after the firm’s shares spiked nearly 1,000 percent in under three weeks. Cryptopolitan reported that the regulator said the digital media advertising company’s stock may have been manipulated by social media promotions.
According to the agency, “unknown persons” were recommending the stock online. The suspension is temporary and ends at 11:59 p.m. ET on Oct. 10.
Before the suspension, QMMM’s stock had already jumped 959 percent after the company announced a plan earlier this month to set up a diversified cryptocurrency treasury worth $100 million, targeting Bitcoin, Ethereum, and Solana.
In the same Sept. 9 release, QMMM declared a “strategic entry into the cryptocurrency sector” using artificial intelligence and blockchain technology. The regulator did not say when the social media posts recommending the stock were published.
During both the first Trump and Biden administrations, the SEC brought enforcement actions against social media promotions connected to crypto. The agency’s current blockchain stock framework would be yet another expansion of its oversight from cryptocurrencies to traditional equity markets.
If you're reading this, you’re already ahead. Stay there with our newsletter.
Read More
US digest: Trump cabinet meeting, Government shutdown extends
Nvidia Reaches Record $4.725 Trillion Market Cap Amid AI Boom
SEC is creating a system to let stocks like Tesla and Nvidia trade as blockchain tokens
The SEC is preparing a new system that would allow company shares to trade as tokens on blockchain networks, according to a report by The Information.
This project is described as part of the Trump administration’s crypto‑focused regulatory agenda and would let investors buy tokens tied to stocks such as Tesla and Nvidia on exchanges. The plan mirrors how digital currencies are exchanged today, but would apply to listed shares.
Sources familiar with the talks allegedly say SEC staff are already speaking with market players about the framework. Companies like Coinbase and Robinhood are lobbying for quick approval so they can offer blockchain‑based stock trading directly to their customers.
But big banks and brokers are opposing the idea because it threatens the current trading infrastructure that produces large profits for them.
SEC acts on token plan while halting QMMM stock
While the SEC is working on its blockchain plan, it has also suspended trading in QMMM Holdings Ltd. after the firm’s shares spiked nearly 1,000 percent in under three weeks. Cryptopolitan reported that the regulator said the digital media advertising company’s stock may have been manipulated by social media promotions.
According to the agency, “unknown persons” were recommending the stock online. The suspension is temporary and ends at 11:59 p.m. ET on Oct. 10.
Before the suspension, QMMM’s stock had already jumped 959 percent after the company announced a plan earlier this month to set up a diversified cryptocurrency treasury worth $100 million, targeting Bitcoin, Ethereum, and Solana.
In the same Sept. 9 release, QMMM declared a “strategic entry into the cryptocurrency sector” using artificial intelligence and blockchain technology. The regulator did not say when the social media posts recommending the stock were published.
During both the first Trump and Biden administrations, the SEC brought enforcement actions against social media promotions connected to crypto. The agency’s current blockchain stock framework would be yet another expansion of its oversight from cryptocurrencies to traditional equity markets.
If you're reading this, you’re already ahead. Stay there with our newsletter.
Read More
US digest: Trump cabinet meeting, Government shutdown extends