Fidelity Urges SEC to Let Broker-Dealers Trade Crypto on Alternative Trading Systems
According to Fidelity’s proposal submitted on the 20th, the firm offered four recommendations to the SEC and called for clearer rules for broker-dealers handling digital assets.
Fact Check
Multiple reputable financial and crypto news outlets (The Block, PANews, BlockBeats) confirm that Fidelity Investments submitted a formal letter to the SEC (specifically the Crypto Task Force) around March 20-22, 2026. The letter explicitly requests that the SEC establish a framework allowing broker-dealers to trade and custody crypto assets using existing Alternative Trading Systems (ATS) infrastructure. While there is a slight variation in the reported date of the letter (March 20, 22, or 23), the core substance of the claim is fully corroborated.
Summary
Fidelity submitted a proposal to the SEC on the 20th containing four recommendations on crypto trading regulation. The firm said it supports the SEC’s efforts and urged clearer rules for broker-dealers that handle digital assets. The proposal adds detail to Fidelity’s broader push for a regulatory framework that would allow crypto asset trading to fit within existing market infrastructure, including alternative trading systems.
Terms & Concepts
- Alternative trading systems: Regulated trading venues outside traditional exchanges that can match buy and sell orders under securities market rules.
- Broker-dealers: Financial firms that execute trades for clients or trade for their own accounts within regulated markets.
- Digital assets: Electronically issued or recorded assets, including cryptocurrencies and tokenized instruments, that can be traded or transferred on digital networks.