Insiders: The U.S. SEC is formulating a plan to allow stocks to be traded on the blockchain

ChainCatcher news, according to informed sources, the U.S. Securities and Exchange Commission (SEC) is developing a plan to allow stocks to be traded on the blockchain like cryptocurrencies, but the plan is facing strong opposition from traditional financial firms such as Citadel Securities.

SEC staff are discussing the plan with industry representatives, which is a top priority for the Trump administration's push for cryptocurrency-friendly regulation. If the plan is approved, investors will be able to purchase tokenized stocks.