The SEC allowing tokenized stock trading exclusively on AMMs while banning order books is a Trojan horse. AMMs suffer heavy slippage at scale, making them useless for institutional volume. While DeFi gets an exemption capped at toy-market liquidity, Nasdaq and NYSE are tokenizing equities on central limit order books inside existing rules. The SEC did not unlock on-chain equities for crypto native apps. They gave DeFi a low-volume sandbox while Wall Street builds the actual infrastructure. https://t.co/3RqkeA9vdI
Murtuza J MerchantShare
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