Blockchain Association backs proposed changes to U.S. SEC trade-through rule

Blockchain Association backs proposed changes to U.S. SEC trade-through rule Blockchain Association said it submitted a comment letter to the U.S. SEC supporting proposed amendments to the trade-through rule, or Rule 611. According to AMB Crypto, the group argued the rule has led to higher costs, greater market-structure complexity, limits on order handling and execution choice, exchange proliferation, and fragmentation in exchange-based stock trading. It also said the proposed changes align with the administration’s intention to strengthen U.S. leadership in cryptocurrency and financial technology. Rule 611 is designed to prevent orders from being executed at worse prices by requiring venues to protect better-priced quotes posted on other exchanges and markets. Concerns have been raised that applying the rule directly to the crypto market may not fit the structure of DeFi, decentralized exchanges, and tokenized securities markets.