Nasdaq Proposes New Framework to Bring Crypto Into U.S. Markets

In an official letter to the SEC, dated April 25, Nasdaq’s top regulatory executive John A. Zecca outlined a detailed approach to classify and regulate digital assets under a modernized structure.

At the heart of Nasdaq’s proposal is a new taxonomy — a four-tier system that would separate digital assets into Financial Securities, Digital Asset Investment Contracts, Digital Asset Commodities, and Other Digital Assets. Nasdaq argues that even if a security is tokenized, its fundamental nature doesn’t change and should still be subject to traditional regulations.

To further support digital asset innovation without compromising market safeguards, Nasdaq proposed the creation of a specialized trading platform dubbed “ATS-Digital” (or “ATS-D”). This venue would allow commodities, investment contracts, and unclassified digital assets to be traded under a framework that balances lighter oversight with strong investor protections.

READ MORE:

Top 10 Countries with the Highest Gold Reserves

Recognizing that some emerging assets may not fit existing categories right away, Nasdaq also recommended a voluntary “safe harbor” that would permit trading based on risk disclosures while regulators continue to refine classification rules. Zecca emphasized that technological innovation must never come at the expense of investor trust and security.

Finally, Nasdaq urged collaboration among the SEC, the CFTC, and Congress to build a unified regulatory path that integrates digital asset technologies into the broader financial system. According to Zecca, this coordinated effort could solidify the U.S. as a leader in digital finance while preserving the resilience of traditional markets.

The post Nasdaq Proposes New Framework to Bring Crypto Into U.S. Markets appeared first on Coindoo.