Ondo Finance has filed a letter with the U.S. Securities and Exchange Commission (SEC) requesting a delay or denial of approval for Nasdaq's proposal for tokenized securities trading. Ondo argues that the plan relies on undisclosed settlement details, potentially giving large institutions an unfair advantage.

In the letter, Ondo stated that regulators and investors cannot fairly evaluate the proposal without understanding how the Depository Trust Company (DTC) will handle blockchain settlement. While supporting the trend toward tokenization, Ondo believes that approval should be suspended until the DTC system is fully developed to ensure fairness and transparency. (Cointelegraph)