Here’s what happened in crypto today
Today in crypto, the SEC is weighing a plan to permit stock trading on blockchain rails and said it will not regulate DePIN tokens, while Visa launched a stablecoin pilot with USDC and EURC for real-time cross-border payouts.SEC weighs plan to allow blockchain-based stock trading amid crypto push: ReportThe US Securities and Exchange Commission (SEC) is reportedly developing a plan to allow blockchain-registered versions of stocks to trade on cryptocurrency exchanges — a move that would mark a significant step toward integrating digital asset technology into the traditional financial system.The proposal, still in early stages, would let investors buy and sell stock tokens — digital representations of shares in publicly traded companies — on approved crypto platforms, The Information reported Tuesday, citing people familiar with the matter.The initiative reflects growing regulatory openness to tokenization, the process of creating blockchain-based tokens that mirror ownership of traditional assets. SEC Chair Paul Atkins recently described tokenization as an “innovation” the agency should seek to advance, not restrict. Regulators “should be focused on how do we advance innovation in the marketplace,” he said, noting that tokenized assets could improve access to financial markets and reduce costs.Interest in stock tokenization has accelerated in recent months. Platforms such as Robinhood and Kraken have begun offering tokenized stock products. At the same time, Nasdaq has requested SEC approval for a rule change that would allow it to list tokenized securities on its exchange.Crypto exchange Coinbase is also reportedly seeking SEC approval to offer tokenized equities.Visa Direct tests stablecoins as cash equivalent for instant transfersVisa has launched a pilot allowing banks and financial institutions to pre-fund cross-border payments using stablecoins.Announced at SIBOS 2025, the Visa Direct stablecoin pilot enables select partners to use Circle’s USDC (USDC) and EURC (EURC) as pre-funded assets to facilitate near-instant payouts, according to a Tuesday announcement.“Cross-border payments have been stuck in outdated systems for far too long,” said Chris Newkirk, president of commercial and money movement solutions at Visa.The goal is to reduce the need for capital to be parked in advance and modernize treasury operations. “Visa Direct’s new stablecoins integration lays the groundwork for money to move instantly across the world, giving businesses more choice in how they pay,” Newkirk added.The pilot is designed for banks, remittance services and financial institutions seeking to optimize liquidity. Instead of tying up fiat currencies across multiple corridors, participants can fund Visa Direct with stablecoins, which Visa treats as cash equivalents for the purpose of initiating payouts.SEC says DePIN tokens outside its remit in rare no-action letterThe US Securities and Exchange Commission issued a rare no-action letter on Monday to signal it won’t take enforcement action against tokens tied to Decentralized Physical Infrastructure Networks (DePIN).SEC Division of Corporation Finance chief counsel Michael Seaman wrote in the letter that he “will not recommend enforcement action” to the SEC for a planned token launch by DePIN project DoubleZero, finding the token and its service don’t fall under securities laws.SEC Commissioner Hester Peirce said that DePIN “differs fundamentally from the capital-raising transactions Congress charged this Commission with regulating,” and lawmakers tasked the agency “to oversee the securities markets, not to regulate all economic activity.”DoubleZero co-founder Austin Federa said the SEC’s move “is more than a milestone for DoubleZero — it’s proof that US founders and innovators can work with regulators to achieve clarity, and still move fast.”Peirce said the action means crypto infrastructure providers can “spend their time deep in the weeds of building out infrastructure, not knee-deep in parsing the nuances of securities laws.”