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Investing.com -- The Securities and Exchange Commission is developing a plan to enable stocks to trade on blockchain technology similar to cryptocurrencies, according to a report from The Information, citing people involved in the process.
The initiative, which represents a key priority in the Trump administration’s crypto-friendly regulatory agenda, would potentially allow investors to purchase tokens on crypto exchanges that represent shares of companies such as Tesla or Nvidia.
SEC staff members are currently engaged in discussions with industry representatives about the proposal. Companies including Coinbase and Robinhood are advocating for quick regulatory approval to permit stock trading on blockchain platforms.
The plan faces significant resistance from traditional financial firms that have established profitable operations within the existing market structure.
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