Tokenization · Wall Street · SEC · Federal Reserve (FED) · CryptoSlate
Centralized Wall Street gatekeepers to control investors’ route into tokenized stocks through old pipes
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24X National Exchange's latest tokenized stock filing has put Wall Street's core plumbing at the forefront of the equity-tokenization race.
Key facts
- The exchange filed SR-24X-2026-20 on June 11, with the SEC issuing its notice on June 16 and the June 22 notice placing the filing in the Federal Register
- The 24X proposal depends on DTC's tokenization pilot, which rests on a Dec. 11, 2025 SEC staff no-action letter
- The immediate signal from SR-24X-2026-20 is a specific compromise: make the access tokenized, but keep the security, the book, the rights, and the settlement controls recognizably Wall Street
- 24X National Exchange's latest tokenized stock filing has put Wall Street's core plumbing at the forefront of the equity-tokenization race
Summary
01 X filed a rule change to let eligible members trade tokenized equities during a DTC pilot. 02 The proposal keeps exchange controls, DTC settlement, and shareholder rights intact, making tokenization fit existing market rails. 03 The key question is whether this permissioned model will attract users, or leave crypto-native venues with the distribution edge. 24X National Exchange's latest tokenized stock filing has put Wall Street's core plumbing at the forefront of the equity-tokenization race. The exchange filed SR-24X-2026-20 on June 11, with the SEC issuing its notice on June 16 and the June 22 notice placing the filing in the Federal Register.