I just noticed that the NYSE is preparing a significant move in the securities tokenization space. They have just submitted a proposal to the SEC regarding Rule 7.50, essentially aiming to allow members of the stock exchange to list encoded securities on their platform.

The interesting part here is that the NYSE is closely following in Nasdaq’s footsteps, as Nasdaq had been approved by the SEC to amend similar regulations back in March. This shows that major exchanges are truly preparing for the future of tokenized securities.

Under the plan, eligible tokenized securities will include companies in Russell 1000 and ETF funds tracking key indices. The key point is that these tokenized securities will retain their CUSIP codes and trading symbols just like traditional securities, providing similar benefits and being traded on the same order book. In other words, they will operate exactly like regular securities, only in token form.

Many people might meme and beg for this to happen sooner, but in reality, current regulations on short selling and risk management will still apply without any special exemptions. This is how the NYSE ensures that tokenized securities operate safely and in compliance like other securities.

All of this is part of a three-year pilot program by Công ty Ký quỹ (DTC). It seems we are witnessing a step-by-step transition of the traditional stock market into the world of tokenization.