Tag Archives: Broker License

It integrates information on brokerage licenses, securities brokerage, tokenized securities, trading distribution, and capital market regulatory compliance.

Exodus Wallet, in partnership with Ondo, launched over 200 tokenized stock markets: an SEC-licensed ATS+ brokerage firm architecture sets a new paradigm for compliant trading in crypto wallets.
Exodus Wallet, in partnership with Ondo, launched over 200 tokenized stock markets: an SEC-licensed ATS+ brokerage firm architecture sets a new paradigm for compliant trading in crypto wallets.

Exodus, a self-custodial wallet, partnered with Ondo Finance, which holds four SEC licenses, to launch Exodus Markets, a tokenized stock market offering over 200 on-chain stocks and ETFs. Ondo acquired Oasis Pro, obtaining full-stack compliance licenses for broker-dealer, ATS, transfer agent, and investment advisor, and confidentially filed a registration statement with the SEC in February 2026. The platform's cumulative trading volume has exceeded $10 billion, marking the mature implementation of a modular compliance division of labor model in the tokenized securities field.

13
June
Bitget CEO Gracy explains Reality's US compliance architecture: Licensed broker Alpaca underlying hosting + independent SPV segregation + triple protection mechanism construct the on-chain US stock trading compliance infrastructure.
Bitget CEO Gracy explains Reality's US compliance architecture: Licensed broker Alpaca underlying hosting + independent SPV segregation + triple protection mechanism construct the on-chain US stock trading compliance infrastructure.

An in-depth interview with Bitget CEO Gracy revealed the Reality platform's US compliance architecture: Through a partnership with licensed US broker Alpaca, orders are directly connected to Nasdaq/NYSE; underlying assets are held in segregated custody by an independent SPV; and a triple-layered security mechanism comprises 1:1 full reserves, daily audits, and a user protection fund exceeding $3 million. Non-crypto assets already account for approximately 40% of Bitget's trading volume, and compliance is listed as one of the three core strategies for 2026.

12
June
BlackRock (BITA) has filed an 8-A registration statement for its Bitcoin Yield ETF. BITA, with a 0.65% fee, is ahead of Goldman Sachs, and its covered call strategy is pioneering a new track in structured crypto yield products.
BlackRock (BITA) has filed an 8-A registration statement for its Bitcoin Yield ETF. BITA, with a 0.65% fee, is ahead of Goldman Sachs, and its covered call strategy is pioneering a new track in structured crypto yield products.

On June 11, 2026, BlackRock filed an 8-A registration statement with the SEC for the iShares Bitcoin Premium Income ETF (BITA), with a planned listing on Nasdaq on June 18. BITA employs a covered call option strategy, with IBIT as the underlying holding. Its management fee of 0.65% is significantly lower than competitors, putting it in a race with Goldman Sachs to gain a first-mover advantage. This marks a key milestone in the evolution of Bitcoin ETFs from spot exposure to structured yield products.

12
June
Metaplanet of Japan acquires licensed Tier 1 brokerage Siiibo Securities for 21 billion yen: a strategic path to obtain a Type 1 financial license as a Bitcoin treasury company.
Metaplanet of Japan acquires licensed Tier 1 brokerage Siiibo Securities for 21 billion yen: a strategic path to obtain a Type 1 financial license as a Bitcoin treasury company.

Metaplanet, a Japanese-listed Bitcoin treasury company, acquired Siiibo Securities, which holds a Class I financial instruments business license, for 21 billion yen (approximately US$1312 million). This acquisition is the first major acquisition under Project Nova's strategy, and the company aims to build a licensed financial platform covering Bitcoin-linked bonds, digital securities, stablecoin payments, and digital asset custody.

12
June
Former CFTC/SEC Chairman Gensler intervenes in the battle for regulatory power over prediction markets: Are sports event contracts swaps or sports betting?
Former CFTC/SEC Chairman Gensler intervenes in the battle for regulatory power over prediction markets: Are sports event contracts swaps or sports betting?

Former SEC/CFTC Chairman Gary Gensler filed an amicus brief with the Sixth Circuit Court of Appeals, arguing that the Dodd-Frank Act does not include sports betting in the definition of swaps, and that the CFTC lacks statutory authority to regulate prediction markets. This case, concerning Kalshi v. Ohio, has seen significant disagreements among the circuit courts and is highly likely to be appealed to the Supreme Court, directly impacting the licensing and compliance path for prediction market platforms.

12
June
The U.S. SEC has formally proposed repealing Rule 611's transaction transparency rule, thus removing a two-decade-long compliance obstacle for tokenized stocks and on-chain AMMs.
The U.S. SEC has formally proposed repealing Rule 611's transaction transparency rule, thus removing a two-decade-long compliance obstacle for tokenized stocks and on-chain AMMs.

On June 11, 2026, the SEC formally proposed repealing Regulation NMS Rule 611 (order protection rule) and Rule 610(e), entering a 60-day public comment period. Rule 611, implemented since 2005, mandated that all transactions follow the best offer of NBBO, objectively hindering the compliant operation of on-chain mechanisms such as AMMs. Alex Thorn, head of Galaxy Research, called this the most significant regulatory development in tokenized stocks.

12
June
Citibank launches tokenized digital depositary receipts: a private equity market compliance framework based on the Swiss SIX regulated blockchain.
Citibank launches tokenized digital depositary receipts: a private equity market compliance framework based on the Swiss SIX regulated blockchain.

Citibank has launched the market's first digital depositary receipts (DDRs), representing legal ownership of private equity firm shares in tokenized form. Citibank acts as both issuer and custodian, with the underlying blockchain infrastructure provided by a fully regulated digital central securities depository operated by the Swiss SIX Group. The product differentiates itself from Robinhood-style synthetic exposures with its depositary receipt legal structure, providing a compliance framework reference for licensed institutions in the Asia-Pacific region: depositary receipts + regulated CSD.

12
June
Futu Securities becomes the first brokerage firm in Hong Kong to receive approval for virtual asset trading financing: License No. 1 services upgraded, traditional securities collateral can be used for cryptocurrency trading.
Futu Securities becomes the first brokerage firm in Hong Kong to receive approval for virtual asset trading financing: License No. 1 services upgraded, traditional securities collateral can be used for cryptocurrency trading.

2026年6月11日，富途证券获香港证监会审核通过1号牌服务升级，成为香港首家向合资格客户推出虚拟资产交易融资服务的券商。传统证券融资额度可用于加密货币交易，但虚拟资产直接抵押仍受100%资本扣减规则限制。此事件标志着SFC 2026年2月通函放宽虚拟资产抵押品政策后的首次落地执行。

11
June
Robinhood Securities Receives IPO Underwriter License: Compliance Upgrades from Retail Distribution to Investment Banking Pricing and Crypto IPO Strategy
Robinhood Securities Receives IPO Underwriter License: Compliance Upgrades from Retail Distribution to Investment Banking Pricing and Crypto IPO Strategy

Robinhood Securities received SEC/FINRA regulatory approval in June 2026 to obtain an IPO underwriter license, upgrading from a retail distribution channel to a full-process underwriting entity capable of participating in pricing and stock allocation. This comes at a time when SpaceX is planning a $1.78 trillion IPO and crypto companies like Bullish are seeking US listings, and the on-chain pre-IPO derivatives market is simultaneously signaling a complementary role to traditional underwriting pricing.

11
June
US crypto market maker GSR receives FINRA approval to acquire SEC-registered broker-dealer: A path to "investment banking" compliance for digital assets and institutional capital market strategies.
US crypto market maker GSR receives FINRA approval to acquire SEC-registered broker-dealer: A path to "investment banking" compliance for digital assets and institutional capital market strategies.

Crypto market maker GSR has received FINRA approval to complete its acquisition of SEC-registered broker-dealer Equilibrium Capital Services. The new entity, GSR Securities LLC, will compliantly conduct tokenization, capital raising, and institutional securities trading. Combined with investments from Standard Chartered SC Ventures, the Libera tokenization platform, and the acquisition of Autonomous investment bank, GSR is building a strategic footprint encompassing market making and the entire crypto capital market.

09
June
Hong Kong SFO Insider Trading Criminal Prosecution: Film Producer Raymond Wong Sentenced to 5 Months in Prison; SFO Enforcement Signal No. 291 and Compliance Warnings for Listed Companies
Hong Kong SFO Insider Trading Criminal Prosecution: Film Producer Raymond Wong Sentenced to 5 Months in Prison; SFO Enforcement Signal No. 291 and Compliance Warnings for Listed Companies

香港西九龙裁判法院判处知名电影制片人黄百鸣监禁5个月，罚款99,720港元及Payment调查费374,305港元。黄百鸣在担任天马影视主席期间利用出售控股权内幕信息怂恿胞妹买入逾900万股，违反SFO第291条。该案是SFC近年来针对控股股东内幕交易刑事检控的标志性案例。

09
June
The Hong Kong Securities and Futures Commission (SFC) has released guidelines for paperless securities markets: Key points for USM compliance preparation by licensed institutions and securities issuers.
The Hong Kong Securities and Futures Commission (SFC) has released guidelines for paperless securities markets: Key points for USM compliance preparation by licensed institutions and securities issuers.

On May 29, 2026, the Hong Kong Securities and Futures Commission (SFC) issued the "Guidance on Issuers' Participation in the Paperless Securities Market System," providing operational guidance for the compliance obligations of designated securities issuers under the USM (United States Management Mechanism) regime. The USM replaces paper certificates with electronic records, requiring issuers to amend their articles of association and meet the listing rules of the Stock Exchange of Hong Kong. While the guidance has been finalized, it has not yet been implemented, and licensed institutions need to plan ahead for system upgrades and compliance transitions.

09
June
The U.S. Securities and Exchange Commission (SEC) has proposed the biggest IPO registration reform in 20 years: instant shelf registration and raising the threshold for large expedited filings from $700 million to $2 billion.
The U.S. Securities and Exchange Commission (SEC) has proposed the biggest IPO registration reform in 20 years: instant shelf registration and raising the threshold for large expedited filings from $700 million to $2 billion.

The SEC released Release No. 33-11418, eliminating the one-year waiting period and the $75 million threshold for post-IPO shelf registration. The threshold for large accelerated filings was raised from $7500 million to $7 billion, benefiting approximately 20% of publicly traded companies. Already listed crypto companies such as BitGo, Circle, and Bullish will be direct beneficiaries, marking a shift in the SEC's regulatory philosophy from enforcement-first to encouraging capital formation.

05
June
Moomoo, in partnership with Kalshi, launched CFTC regulatory event contracts: facilitating market compliance and expanding brokerage product offerings.
Moomoo, in partnership with Kalshi, launched CFTC regulatory event contracts: facilitating market compliance and expanding brokerage product offerings.

Moomoo, Futu Holdings' overseas brand, has partnered with Kalshi, a CFTC-regulated prediction market platform, to launch event-driven contract trading within the Moomoo App, covering events such as Federal Reserve interest rate decisions, elections, and the World Cup. This collaboration marks the first time a compliant prediction market has been natively integrated into the retail channels of Chinese-funded overseas brokerages, providing a direct reference for Asia-Pacific financial institutions holding CFTC-related licenses.

05
June
Is Tokenization Replicating the ETF Market Structural Revolution? A Three-Dimensional Compliance Assessment Framework for Licensed Institutions
Is Tokenization Replicating the ETF Market Structural Revolution? A Three-Dimensional Compliance Assessment Framework for Licensed Institutions

Is tokenization merely a logical continuation of the ETF market's structural revolution? From creation/redemption mechanisms and arbitrage-driven pricing to 24/7 trading capabilities, tokenization is replicating the success of ETFs. This article provides a three-dimensional compliance assessment framework for licensed institutions, drawing from the four legal jurisdictions: MiCA, the GENIUS Act, Singapore's MAS, and Hong Kong's SFC.

05
June
Zerohash Raises Valuation Exceeding $15 Billion: The Crypto Infrastructure M&A Landscape Following Mastercard's Acquisition of BVNK
The legislative window for the US Clarity Act is narrowing: JPMorgan Chase warns of a bleak outlook for passage by 2026.

This article was originally written by the Aiying Compliance Team and requires authorization to be reproduced.

04
June
The U.S. SEC is considering allowing newly listed companies to raise funds immediately: the largest securities issuance rule reform in two decades.
The U.S. SEC is considering allowing newly listed companies to raise funds immediately: the largest securities issuance rule reform in two decades.

On May 19, 2026, the U.S. Securities and Exchange Commission (SEC) announced its largest IPO and listed company rule reform plan in two decades: new listed companies can immediately use the stock exchange for registration; the threshold for large expedited filings will be raised from $700 million to $2 billion; and regulatory facilitation will be expanded to include […].

04
June
The SEC plans to allow newly listed companies to raise funds immediately after their IPOs—crypto companies BitGo, Circle, and Securitize are expected to be the main beneficiaries.
The SEC plans to allow newly listed companies to raise funds immediately after their IPOs—crypto companies BitGo, Circle, and Securitize are expected to be the main beneficiaries.

SEC于2026年5月19日公布20多年来最大规模IPO规则改革：IPO后储架注册即时可用、取消7500万美元公募流通量限制、大型加速申报者门槛从7亿提高至20亿美元。符合条件的上市公司比例将从36%扩大至75%，加密企业BitGo、Circle、Bullish及拟上市Securitize、Kraken将成为主要受益方。

03
June
SEC 2026-2030 Strategic Plan Draft: From the Atkins Reform Roadmap to the SEC-CFTC Joint Memorandum, Five Practical Signals for Crypto License Applications
SEC 2026-2030 Strategic Plan Draft: From the Atkins Reform Roadmap to the SEC-CFTC Joint Memorandum, Five Practical Signals for Crypto License Applications

The SEC released a draft strategic plan for fiscal years 2026-2030, listing digital assets as a separate strategic objective for the first time. Combined with the historic SEC-CFTC MOU signed in March, this analysis examines the practical impact on crypto license applicants and provides valuable insights for Asia-Pacific licensed institutions across five dimensions: ATS license application compliance architecture, bypassing the Howey test for token issuance, simplified compliance for dual licensing, regulatory channels for staking and custody services, and the second half of 2026 timeframe.

03
June
Backpack Securities: The cryptocurrency exchange founded by the former head of FTX launches a US-regulated security tokenization platform.
Backpack Securities: The cryptocurrency exchange founded by the former head of FTX launches a US-regulated security tokenization platform.

Backpack Securities, founded by former FTX General Counsel Can Sun, employs a dual-track architecture that integrates traditional US brokerage custody with the Solana on-chain Sunrise protocol to achieve stock tokenization. Trek Labs holds MTL licenses in 19 states and FinCEN MSB registration, marking a strategic extension of crypto exchanges toward SEC-regulated securities business.

03
June

This page has been updated.

This content has been updated and moved to a new page.
Please click the button below to access the latest version.

Go to new page