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ETH $1,659.22 -1.24%
BNB $603.90 -0.66%
XRP $1.12 -1.19%
SOL $67.34 -1.30%
TRX $0.3187 +0.45%
DOGE $0.0862 -1.70%
ADA $0.1661 -3.70%
BCH $198.26 -4.28%
LINK $7.80 -2.49%
HYPE $60.07 +0.46%
AAVE $65.47 -1.48%
SUI $0.7472 -2.88%
XLM $0.1818 -2.86%
ZEC $422.37 +2.02%

cto

Galaxy Research Director: SEC plans to abolish core rules of Reg NMS, which may clear obstacles for tokenized stocks and on-chain AMMs

Galaxy Research Director Alex Thorn posted that the U.S. Securities and Exchange Commission (SEC) plans to abolish Rule 611 "Order Protection Rule" and Rule 610(e) in the National Market System Regulation (Reg NMS), which could become an important turning point for the development of tokenized stocks.Thorn pointed out that Rule 611 requires trades to adhere to the best quotes across the entire market (NBBO), while AMMs cannot route orders in real-time, access low-latency market data, or pause trading due to better quotes existing on other exchanges. Therefore, it has long been difficult to meet regulatory requirements, becoming one of the main structural obstacles for tokenized U.S. stocks to land in the DeFi scenario. He stated that if the future replaces the regulatory requirements for trade-by-trade supervision with brokers' "best execution obligations," on-chain liquidity pools and AMM mechanisms will be more easily incorporated into the compliance framework.Although tokenized securities still face issues such as trading venue registration and clearing and settlement, the SEC's subsequent plan to introduce an "innovation exemption" mechanism is expected to further promote related developments. Thorn believes this is an important step for the SEC to implement the "Project Crypto" roadmap, paving the way for innovations in tokenized stocks, AMMs, and on-chain securities trading by removing key market structure barriers.

AMIKO has completed the OpenHermit upgrade, and the ecological development sector is officially open

AMIKO announced the completion of the full-platform Agent runtime upgrade, with the underlying platform migrated to the self-developed open-source architecture OpenHermit. According to information from the project team, existing users have completed the system transition, and new users will directly operate on the OpenHermit architecture after registration. Meanwhile, the AMIKO ecosystem development segment has officially entered the open phase.AMIKO is an identity and social infrastructure aimed at the AI Agent era, focusing on four aspects: identity, productivity, social interaction, and economy, with the goal of enabling users to have AI Twins, Companions, Assistants, and Experts that can represent them in actions, communication, and collaboration. OpenHermit is AMIKO's self-developed open-source Agent runtime, designed for large-scale production-level deployment scenarios, supporting stable hosting and low-cost continuous operation of a large number of Agents.During the internal testing phase, OpenHermit has gained discussions and code contributions within the global developer community, and the related code repository has been opened on GitHub. Documentation and quick start guides can be viewed at openhermit.ai.This upgrade is also seen as a product landing point for AMIKO's recent strategic actions. Previously, AMIKO received strategic investment from the American technology investment firm High Ridge Holdings and reached a strategic equity partnership and comprehensive ecological cooperation with Feixiaohao.With the completion of the underlying architecture upgrade, independent developers and professional teams can develop and deploy products and services within the platform ecosystem based on AMIKO's infrastructure covering identity, productivity, social interaction, and economy. AMIKO stated that its goal is to become a universal Agent infrastructure platform in the AI-native era, allowing the flow of identity, productivity, social interaction, and economy to occur naturally between users and Agents.
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