The rules of the stock market changed drastically in the last couple of months. Digital currency and stocks are starting to look identical. Shares are moving on to blockchain rails, trading around the clock and across borders instantly. Whoever writes the rules for this new marketplace will shape it for the rest of the world. And right now, the United States risks falling behind this regulatory momentum, forced to follow rules written by foreign competitors.

In January of this year, the NYSE announced a 24/7 trading venue for blockchain-based tokenized assets. Later in March, the Securities and Exchange Commission approved tokenized trading for Russell 1000 stocks & ETFs on Nasdaq.