Fidelity Urges SEC to Set ATS Framework for Crypto Trading and Custody in March 2026

Fidelity Investments submitted a letter on March 20, 2026 urging the SEC to create a framework that allows broker-dealers to offer, custody, and trade crypto assets on Alternative Trading Systems. The firm also called for clearer standards for tokenized securities, updated reporting rules for DeFi, and guidance on using distributed ledger technology for recordkeeping without being labeled a "clearing agency."