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Crypto

U.S. SEC allows tokenised stock trading, mandates dividend and voting rights

The U.S. Securities and Exchange Commission has opened a regulatory pathway to trade U.S.-listed stocks in token form. CNBC reported that trading platforms and liquidity providers meeting certain conditions can handle tokenised stocks. The move is based on the SEC\'s \"innovation exemption\" and will apply for five years, though it is not a formal rule. The SEC plans to develop standards needed for final rules while markets operate.

Crypto

Clarity bill fails, reigniting digital asset tax controversy

This week’s key issue in digital assets was the Clarity bill, which failed to clear a U.S. Senate cloture vote and pushed bitcoin down into the $76,000 range. Unresolved disputes included stablecoin interest payments, whether developers and infrastructure providers fall under money-transmitter rules, and ethics rules tied to President Donald Trump’s crypto business. In South Korea, debate revived over the government’s plan to start taxing digital assets in 2027. Markets also revisited quantum-computing risks and tokenisation investment moves.

Crypto

Nasdaq to invest $100 million in Kraken parent Payward, eyes tokenised stock trading in 2027

Nasdaq will invest $100 million in Payward, the parent of crypto exchange Kraken, and plans to launch tokenised shares in 2027. The two companies aim for a second-quarter rollout and will build infrastructure for the distribution and trading of tokenised stocks, along with market surveillance technology. CNBC reported debate continues over what tokenised shares mean and what rights holders receive because they do not directly own the underlying assets.