A new SEC policy could let crypto firms trade blockchain-backed shares with faster settlement — stirring competition and fresh investor risks across US equity markets.

In New York, on June 17, analysts and lawyers point to potential changes in the U.S. stock markets related to the Securities and Exchange Commission’s preparation to implement a new policy that would allow crypto companies to offer blockchain-based tokenized stocks.

The crypto industry argues that tokenized stocks are blockchain-based instruments that track traditional shares and can be traded 24/7 with instant settlement, boosting liquidity and reducing trading costs.

Industry insiders expect that the head of the SEC during the Trump administration, Paul Atkins,…