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Today in crypto, Ondo Finance is urging the US SEC to delay or reject Nasdaq’s tokenized securities proposal. Meanwhile, Japan’s top banks are reportedly planning a joint yen-based stablecoin, and more than five new crypto ETFs were filed this week despite the ongoing US government shutdown.
Ondo Finance urged the US Securities and Exchange Commission (SEC) to delay or reject Nasdaq’s proposal to trade tokenized securities, saying it lacks transparency and could give established market players an unfair edge.
In a Wednesday letter to the regulator, Ondo — a blockchain company that issues tokenized versions of traditional assets — said regulators and investors can’t fairly evaluate Nasdaq’s proposal without public details on how the Depository Trust Company (DTC) will handle blockchain settlements. DTC serves as the main depository for US securities and facilitates their post-trade settlement.
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