SEC Issues No-Action Letter to DTCC on Tokenization, Nasdaq Proposes Extended Trading Hours

KuCoinFlash

Release Time:12/19/2025 09:15:47

KuCoin trading platform users may soon benefit from advanced trading features as U.S. markets evolve. On December 15, 2025, Nasdaq filed Form 19b-4 with the SEC, proposing to extend U.S. stock and exchange product trading hours to 23/5, with two sessions: daytime (4:00–20:00 ET) and nighttime (21:00–4:00 ET). The plan excludes 24/7 trading and does not mention tokenization. Separately, on December 11, 2025, the SEC issued a No-Action Letter to DTCC, allowing its DTC subsidiary to test tokenization services for securities custody under specific conditions. The NAL waives certain procedural requirements temporarily but does not grant legal approval. DTC’s pilot maps existing securities to blockchain-based tokens for internal efficiency, without changing legal ownership or market structure.

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