Securities
DTCC plans July pilot and October launch for tokenized securities
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The Depository Trust & Clearing Corporation (DTCC) will begin limited production trades of tokenized securities in July, aiming for a full platform launch in October. The service targets assets like Russell 1000 stocks, ETFs, and U.S. Treasuries, backed by input from over 50 firms including BlackRock and JPMorgan. DTCC, custodian of $114 trillion in securities, secured SEC no-action relief in December to enable this move.
SBI Securities and Rakuten Securities are developing crypto investment trusts in-house. Nomura, Daiwa and SMBC plan to follow suit as Japan prepares rules allowing crypto-holding funds by 2028.
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Hong Kong's Securities and Futures Commission has secured court orders to freeze the assets of three individuals accused of insider trading. They include former HKEX listing division staffer Chan Ching-wa and relatives Lam Cho-man and Chau Chi-kwong, who allegedly used non-public information to trade shares between June 2020 and March 2025. The measures involve injunctions in Hong Kong and the UK.
Coinbase, a major cryptocurrency firm, has initiated a lobbying effort in Maryland to challenge a state order restricting its staking rewards program. The campaign targets legislation to overturn the attorney general's cease-and-desist directive from 2023. Officials say the company has engaged with numerous lawmakers to secure support.