Benchmark: SEC NMS Proposal Most Consequential Crypto Rule

Benchmark Equity Research has identified the SEC's proposal to rescind Regulation NMS Rules 611 and 610(e) as the most significant U.S. crypto regulation of the year. The firm argues this move would eliminate a major obstacle for trading tokenized equities on automated market makers (AMMs). Benchmark specifically highlighted Securitize as a potential primary beneficiary, with Coinbase and Galaxy Digital also noted as likely to benefit from this regulatory shift. The SEC's proposal aims to simplify market structure and foster innovation by allowing market forces to shape the evolution of U.S. equity markets.