Next week could decide whether SEC lets your Apple shares live on-chain — with the same protections

The SEC's Investor Advisory Committee meeting on December 4th will address how publicly traded equities, like Apple shares, can exist on a blockchain while remaining within the current regulatory framework, avoiding offshore derivative structures. Market participants from Nasdaq, BlackRock, Coinbase, and others will present on tokenization, focusing on whether existing rules like Regulation NMS can accommodate blockchain settlement. Nasdaq's proposal suggests tokenized shares trade alongside traditional shares, using blockchain only for settlement while keeping front-end rules intact, ensuring compliance with best bid and offer (NBBO) and surveillance. The discussion will distinguish between compliant, natively issued tokens that retain full shareholder rights and 'wrapper' tokens common offshore that only offer economic exposure. While the committee cannot write rules, its findings will provide the SEC with a reference architecture for evaluating future filings, potentially paving the way for on-chain trading by Q3 next year if infrastructure develops, or highlighting regulatory hurdles like 24/7 trading.

(Source：CryptoSlate)