SEC 推出台股链上交易沙盒试点计划
深潮 TechFlow 消息，9 月 18 日，据 CoinDesk 报道，美国证券交易委员会（SEC）近日提出为期五年的监管沙盒方案，允许合规平台在不注册为国家级交易所的情况下，通过智能合约与流动性池在公有链上交易真实美股。交易受到严格限制。高流动性股票单一平台代币上限为 75 只，日均成交量限为 0.25%；第二梯队放宽至 250 只与 2.5%。SEC 总监 Jamie Selway 指出旨在小步试错。代币须完整保留原股分红、投票权及熔断同步机制，且明文禁止杠杆借贷。若由第三方发起代币化，上市公司享有 30 天通知期及一票否决权。项目方 Securitize 首席执行官 Carlos Domingo 视其为可控的创新试验场。当前框架细节仍在完善中。
SEC unveils sandbox pilot for onchain US stock trading
TechFlow, Sept 18 — CoinDesk reports the SEC has proposed a five-year regulatory sandbox letting compliant platforms trade real US stocks on public blockchains via smart contracts and liquidity pools without registering as national exchanges, under tight limits: highly liquid stocks capped at 75 tokens per platform and 0.25% of average daily volume, with a second tier relaxed to 250 stocks and 2.5%. SEC market director Jamie Selway framed it as small, iterative steps. Tokens must preserve dividends, voting rights and synchronized circuit breakers, with leveraged lending explicitly banned; if a third party tokenizes a stock, the listed company gets a 30-day notice period and veto power. Securitize CEO Carlos Domingo called it a controlled proving ground for innovation. Framework details are still being finalized.