Ondo Finance is urging the SEC to delay Nasdaq’s proposed rule change allowing tokenized securities trading. Concerns include lack of transparency and fair market access threat. Nasdaq’s plan relies on the DTC for post-trade settlement, but details are vague. Ondo argues this favors large incumbents and leaves smaller firms without needed information. Ondo could support the plan if DTC makes its process public, seeking a formal SEC review for now.

Read more at Yahoo Finance: Ondo Finance Urges SEC to Delay Nasdaq’s Tokenization Plan Over Transparency Gaps