SEC: Proposes Rescinding Rule 611 for Tokenized Stocks

SEC proposed rescinding Rule 611 of Reg NMS, the trade-through rule that has governed US equity markets since 2005, delivering a direct catalyst for tokenized stocks and DeFi infrastructure. The change removes barriers that forced orders to execute at the best displayed price, allowing tokenized equity products to integrate more seamlessly with traditional venues. Matt Hougan highlighted the thread as essential reading for anyone tracking tokenization market impact and crypto market structure evolution.