According to CoinMeta, the Blockchain Association supports the proposal by the U.S. Securities and Exchange Commission (SEC) to repeal two market rules enacted in 2005, believing that their abolition will facilitate the trading of tokenized securities on public blockchains. In a comment letter dated August 17, the association stated that the existing rules are no longer suited to the operations of modern securities markets. The SEC is considering repealing Rules 611 and 610(e) and making corresponding amendments to the relevant definitions. The Blockchain Association pointed out that these rules have failed to achieve their intended objectives over the past 20 years and have instead imposed unnecessary costs on market participants. The association emphasized that with advancements in trading technology, markets have become faster and more automated, and blockchain infrastructure provides new ways for the issuance, transfer, and settlement of securities.