The US SEC plans to introduce a tokenized stock trading scheme, exploring the issuance and trading of traditional stocks in blockchain form. The plan may allow compliant brokers to provide tokenized stock services through on-chain platforms, enhancing settlement efficiency, reducing costs, and simultaneously strengthening investor protection and anti-money laundering regulation. This move is seen as a key attempt to balance financial innovation with risk control, potentially driving the digital transformation of capital markets, but it requires the improvement of supporting rules such as pricing and custody.