The US Securities and Exchange Commission (SEC) has approved Nasdaq's pilot proposal to allow the trading of tokenized versions of high-volume stocks on the same exchange. The proposal, filed in September, aims to allow high-profile stocks to trade alongside their traditional counterparts on a common order book, at the same price, with the same ticker and identifying number and carry the same rights. Only "eligible participants" can participate in the pilot program, limited to securities that trade in the Russell 1000 Index, the largest US company by market capitalization, along with exchange-traded funds tracking the S&P 500 and Nasdaq-100 indices. This approval comes after the Nasdaq announced it had partnered with crypto exchange Kraken to move securities from its infrastructure to tokenized ones. The SEC will soon seek public comment on a range of crypto-related exemptions, including a "fundraising exemption" for some securities involving crypto to raise a set amount in any 12-month period while being exempt from registering under securities laws.