SEC Approves DTCC Pilot for Blockchain-Based Securities Tokenization

The SEC has approved a three-year pilot for the Depository Trust Company (DTCC) to tokenize select securities on blockchains, enabling the creation of digital tokens that represent existing security entitlements. This marks the first blockchain-based recordkeeping system for the U.S. stock trades clearinghouse, starting in the second half of next year. SEC No-Action Letter allows [...]