While it was certainly known that the SEC wanted to provide a regulation-lite method for the trading of securities in tokenized form, not sure that the markets expected anything so bold. This has the potential to be a big-time disruptor of the status quo in a way that cannot make SEC-registered exchanges and markets happy, as it has the potential to create what might be all-to-all markets operating with quite limited intermediation by lightly regulated firms.

While SEC-registered…

Interesting for the SEC to take the view that its existing rules exceed its statutory authority. Certainly a position that would have been inconceivable under the prior Administration.

That said, the argument that the SEC has long acted improperly in federalizing state corporate law is not a trivial one, although it has been debated little in recent years. If that view should take hold, the repeal of Rule 14a-8 would likely not be the stopping point.

Isn't it time to get rid of nickels and dimes?

Pretty clear that Senator Warren will try to kill any digital asset bill so long as President Trump is in office. But if she is just trying to undermine his family businesses, she does not have any path.

So long as he is in office, there is nothing that she can do to make the Trump family businesses illegal. And once he is out of office and a private citizen, she has no basis to attack Trump family activities. Not that it will stop her. But it would be better for the country to have…