Self-Regulatory Organizations; 24X National Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Rules To Enable the Trading of Securities on the Exchange in Tokenized Form During the Pendency of a Pilot Program To be Operated by the Depository Trust Company
24X National Exchange proposes a rule change to allow trading of tokenized securities under a DTC pilot program. This may create new reporting obligations for tokenized securities transactions.
Aforeworn detected this change in the Crypto & DeFi Tax Reporting space on July 5, 2026 and published this briefing so affected operators are forewarned rather than caught off guard. It is rated Medium urgency. Crypto exchanges/brokers, accounting firms, DeFi protocols, high-volume traders should confirm how it applies to their specific situation before acting. There is a time constraint attached: Comment period ends 21 days after publication in Federal Register (likely mid-July 2026).. Acting after that point can mean penalties, a lapsed licence, or lost eligibility — exactly the kind of surprise Aforeworn exists to prevent. Aforeworn monitors Crypto & DeFi Tax Reporting continuously and turns every detected change into a plain-English briefing like this one, so you always know first. Forewarned is forearmed.
What changed
Tokenized securities may now trade on a national exchange, potentially triggering broker reporting (e.g., 1099-DA) and cost basis tracking requirements.
Who it affects
Crypto exchanges/brokers, accounting firms, DeFi protocols, high-volume traders
What you must do
Review the proposed rule and assess whether tokenized securities trading affects your tax reporting obligations. Prepare to update systems for tracking and reporting tokenized securities transactions.
Deadline
Comment period ends 21 days after publication in Federal Register (likely mid-July 2026).
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