The Blockchain Association has asked the SEC (U.S. securities regulator) to rescind Rule 611 and Rule 610(e) of Regulation NMS, saying the long-standing US equity market rules were designed for centralized exchanges and consolidated quotes rather than tokenized securities that settle on a blockchain. In a comment letter filed on August 18, 2026, the group argued that Rule 611, the Order Protection Rule, and Rule 610(e), which caps access fees to protected quotes, force on-chain projects to rely on legacy market infrastructure or wait for regulatory relief. The filing forms part of a broader effort to adapt securities regulation to tokenized assets as the SEC weighs a tokenization exemption that has been delayed amid CLARITY Act negotiations. The Association said removing the two rules would allow tokenized securities markets to develop on-chain price discovery without requirements built around off-chain intermediaries. Bitcoin was at $64,053, up 1.0% over 24 hours, while Ether traded at $1,893, down 0.6%, with the Fear and Greed Index at 40 in neutral territory; the filing did not move crypto prices and the SEC has not indicated how it will respond.