Galaxy’s Alex Thorn says the SEC’s plan to scrap Rule 611 could remove a key obstacle for tokenized U.S. stocks on decentralized platforms. The rule governs stock orders and quotes, making it relevant to how tokenized equities might trade in crypto markets.
Galaxy’s Alex Thorn says the SEC’s plan to scrap Rule 611 could remove a key obstacle for tokenized U.S. stocks on decentralized platforms. The rule governs stock orders and quotes, making it relevant to how tokenized equities might trade in crypto markets.
The development matters because tokenized stocks sit at the intersection of traditional securities markets and crypto infrastructure. If a rule governing stock orders and quotes is removed, Galaxy argues it could make it easier for tokenized versions of U.S. equities to operate in decentralized market venues.
Galaxy’s Alex Thorn says a U.S. Securities and Exchange Commission plan to scrap Rule 611 could be a positive development for tokenized U.S. stocks. According to Thorn, removing the rule would take away a major barrier to trading tokenized equities on decentralized platforms.
The development matters because tokenized stocks sit at the intersection of traditional securities markets and crypto infrastructure. If a rule governing stock orders and quotes is removed, Galaxy argues it could make it easier for tokenized versions of U.S. equities to operate in decentralized market venues.
Rule 611 is tied to how stock orders and quotes are handled in U.S. markets. Thorn’s view is that the rule has been a significant hurdle for decentralized trading of tokenized shares, where market structure differs from conventional stock exchanges.
The comments come as tokenized real-world assets remain a focus across the crypto industry. Stocks are among the most closely watched potential use cases because they connect blockchain-based trading systems with established public markets.
The SEC plan has not, by itself, created a new framework for tokenized equities. But Galaxy’s assessment suggests that removing Rule 611 could clear one important regulatory and market-structure obstacle for companies and platforms working on tokenized U.S. stock products.
Keep exploring
The latest State of Crypto update says the industry has two weeks left in the push for the Clarity effort. The development keeps attention on U.S. crypto policy as companies and market participants watch for regulatory direction.
Read
Russia’s biggest bank says it plans to create cryptocurrency trading infrastructure by Dec. 1, as the country moves toward setting rules for market participants. The development comes alongside plans to allow crypto assets to be used in foreign trade operations.
Read
Thinking Machines Lab has released Inkling, its first model after two years of silence, and it is now available on OpenRouter. The model’s MCP score appears strong, though its price-to-performance case is more complex.
Read