Fidelity urges SEC to refine rules for broker-dealers handling crypto assets

Fidelity Investments has called on the U.S. Securities and Exchange Commission (SEC) to accelerate the development of regulations for integrating crypto assets into existing market structures, with a focus on alternative trading systems (ATS). In a letter to the SEC Crypto Task Force, Fidelity expressed support for adapting existing frameworks to new technologies while emphasizing the importance of investor protection, transparency, and market integrity. The firm recommended continued regulatory development for broker-dealers, clearer rules for tokenized securities on ATS platforms, consideration of how traditional and decentralized trading venues can coexist, and allowing the use of blockchain for recordkeeping. Fidelity highlighted recent SEC guidance as a “welcome” step but stressed the need for further clarity on trading and custody practices, particularly concerning the classification of tokenized assets and their regulatory status.

(Source：The Block)