Nasdaq has put forward an ambitious new plan to bring digital assets into the U.S. capital markets while ensuring investor protections remain intact.
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.
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.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/nasdaq-proposes-new-framework-to-bring-crypto-into-u-s-markets/