SEC mulls stocks trading like cryptocurrencies

The Office of the Comptroller of the Currency has issued new guidance permitting national banks to hold certain cryptocurrencies solely for the purpose of paying blockchain network fees. This decision, detailed in Interpretive Letter 1186 released on November 18, 2025, allows banks to manage crypto assets on their balance sheets, marking a significant step in the integration of cryptocurrencies into traditional banking systems.

Japan's Financial Services Agency is set to reclassify cryptocurrencies as financial products under the Financial Instruments and Exchange Act. This regulatory change will affect 105 cryptocurrencies and is part of a broader tax overhaul aimed at the cryptocurrency sector. The move reflects Japan's evolving stance on digital currencies and aims to provide a clearer regulatory framework for the industry.

Network security expert Wish Wu emphasizes that regulation and custody are crucial for unlocking the potential of tokenized equities. The current landscape is hindered by regulatory ambiguity and a lack of liquidity, which pose challenges to the mass adoption of stock tokenization. Establishing clear legal frameworks and trusted custody models is essential for attracting institutional investment in this emerging market.