PANews reported on October 18 that according to Cointelegraph, Ondo Finance urged the U.S. SEC to postpone or reject Nasdaq’s proposal to trade tokenized securities, saying that it lacks transparency and may give existing market participants an unfair advantage.

Ondo, a blockchain company that issues tokenized versions of traditional assets, stated in a letter to regulators that without public details on how the Depository Trust Company (DTC) will handle blockchain settlements, regulators and investors cannot fairly evaluate Nasdaq's proposal. DTC is the primary depository for US securities and is responsible for facilitating their post-trade settlement. The company also noted that Nasdaq's regulations cannot take effect until DTC finalizes its system and argued that delaying approval until more features are released is appropriate. It called on the SEC to prioritize "open collaboration and transparent standards" before making a final decision.