Nasdaq has proposed to the US Securities and Exchange Commission (SEC) that certain digital assets should be regulated as financial securities if they can be considered 'stocks by any other name.' In an April 25 comment letter, the exchange emphasized the need for a clearer taxonomy in cryptocurrencies, advocating for the regulation of some tokens under existing securities laws, regardless of whether they exist as paper shares, digital shares, or tokens. Nasdaq also suggested that other cryptocurrencies be classified as 'digital asset investment contracts' with 'light touch regulation' while remaining under SEC oversight. This proposal comes at a time when the SEC's regulatory stance on cryptocurrencies has shifted significantly, expanding its jurisdiction to include a range of digital assets, while also distinguishing certain speculative assets and stablecoins as non-securities. The exchange highlighted that integrating digital assets into traditional financial systems is feasible with the right regulatory framework, as established financial infrastructures are capable of adapting to these innovations.

Source 🔗