SEC · CryptoSlate
Why Nasdaq surveillance cannot settle the fight over 24/7 tokenized markets
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
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Nasdaq's agreement to invest $100 million in Payward, Kraken's parent company, adds a planned surveillance rollout to a push into tokenized and always-on markets.
Key facts
- On May 29, 2026, the CFTC took a historical, bitcoin-specific step when it approved KalshiEX's bitcoin-referencing BTCPERP under Regulation 40.3
- On March 18, 2026, the SEC approved Nasdaq's rule change for eligible securities to trade in tokenized form during a Depository Trust Company pilot
- The event concerns preparations for 24-hour trading in conventional market infrastructure, with a later panel looking toward possible future expansion to 24×7 trading
- Nasdaq said Sept. 10 that its venture arm had agreed to invest $100 million in Payward
Summary
01 Nasdaq agreed to invest $100 million in Payward and extend surveillance across five market types. 02 Classification—not surveillance—determines U.S. listing paths, access and investor protections. 03 Key gaps remain: deployment timing and underlying cash-equity data access are undisclosed. Together, the two moves expose the gate facing always-on markets.