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

The SEC accepted 24X National Exchange's immediately-effective rule change letting it trade securities in tokenized form during a DTC-operated pilot program.

It sets an early precedent for tokenized-securities trading via a registered national exchange with DTC settlement — a competitive channel and regulatory pathway relevant to BlockQuake's tokenization/RWA ambitions and its pursuit of federal registration clarity, though it imposes no direct obligations on a crypto-native MSB.

Track the 24X rules and DTC pilot as a market-structure signal, and weigh whether a national-exchange/broker-dealer registration path fits BlockQuake's tokenization roadmap.