Fidelity Investments urged the SEC to develop a comprehensive regulatory framework for crypto trading, especially in the realm of tokenized securities. In its letter, Fidelity highlighted the need for rules around trading structures and the rights of holders. The company also emphasized the differences between centralized and decentralized trading systems, calling for a regulatory approach that acknowledges both. This includes overhauling reporting rules to account for decentralized finance (DeFi) and distributed ledger technology (DLT). Fidelity noted that the SEC has already shown support for 24/7 capital markets and tokenized trading pilots.
