The U.S. Securities and Exchange Commission (SEC) has unveiled a series of proposals aimed at overhauling long-standing stock trading regulations, specifically targeting the rescission of the Regulation NMS Rules 611 and 610(e). Key elements of these proposals include the elimination of the trade-through rule and the order protection rule, which currently guarantees that investors receive the best possible prices. SEC Chairman has emphasized that these changes are intended to enhance competition in the markets while reducing complexity and costs for trading. Industry experts, including analysts from Galaxy Digital, suggest that this move could significantly impact tokenized stocks and the trading landscape as a whole. These proposals have sparked debate among investors and regulators, with some arguing that removing these protections may be detrimental to investor interests.