NuntiumtZ

SEC delays plan to allow trading of tokenized stocks due to concerns and pushback Scoop via @pattersonscott

@HumbleandH @Celestine618 Yes.

The Senate Banking Committee dropped a new draft of the Digital Asset Market Clarity Act yesterday. Here's our read and why we continue to support the advancement of this bill: - On the ancillary asset framework: While a team's managerial efforts continue, sales of ancillary assets by that team are deemed investment contracts, and thus securities transactions, even though the assets themselves remain digital commodities. This means the "transaction" is regulated as a securities transaction, while the "asset" retains its commodity character once decentralized. This is great for tZERO; it creates an explicit, statutory role for broker-dealers to facilitate those investment contract transactions. @tZERO is built for exactly this. - On BD licensing: Our feedback remains the same. Broker-dealers should be able to operate a full-service spot crypto business without redundant federal or state licensing. The new draft makes progress on state preemption for network tokens, but federal preemption of state money transmission laws for BDs still needs to be explicit. Chairman Atkins' multi-asset platform vision requires it. - On tokenized securities: Sec. 505 is a congressional directive for the SEC to modernize its rules to accommodate tokenized securities on distributed ledger systems. Combined with the disqualifying financial rights framework, which keeps tokens bearing equity, debt, liquidation, or profit-sharing rights firmly in the securities column, this draft makes clear that regulated BD infrastructure is the mandatory home for these assets. There is no compliant path around it. That is the lane tZERO has been building since day one. - On @Lynq_Network , our partnership with @arca and @tassatgroup, and the Sec. 404 stablecoin compromise: Our broker-dealer-operated, interest-bearing settlement system remains a compliant path to offer client yield for a tokenized security that powers settlement. - The remaining work: Permanent BD custody rules remain delegated to agency rulemaking. We would support the statute doing more of that heavy lifting to codify the SEC's December 2025 guidance. The architecture of this draft reflects real progress, and the statutory hooks are there to build on. Nevertheless, while we advocate for this framework with some enhancements, tZERO's growth and roadmap are not premised on its passage; we have been ready, and we are ready now to be a critical infrastructure provider for market participants. The time for tokenization is now. @Alan_Konevsky @SavinoVaness @cr00ster

@tZERO x @Aptos We've announced a collaboration to bring tZERO's institutional tokenization platform to the Aptos L1 – giving issuers high-performance blockchain deployment with compliance infrastructure built in. "This integration reflects our continued focus on supporting issuers building tokenized assets with institutional-grade infrastructure. Leading protocols like Aptos are critical partners and consumers for our infrastructure as we offer compliant gateways for issuers and developers building on Aptos technology." – @Alan_Konevsky, CEO, tZERO. 🔗 tzero.com/news/tzero-exp…