Michael Burry and Citadel Securities criticize SEC proposal to allow 24/7 blockchain-based stock trading without company consent.
The SEC has proposed allowing stocks to be tokenized and traded on blockchain platforms 24/7, a plan opposed by investor Michael Burry and trading firm Citadel Securities. Burry warned the move could lead to market fragmentation and unintended consequences for investors.
Under the proposal, stocks could be tokenized without a company’s approval and traded outside traditional market hours, unlike current U.S. stock market operations. Citadel Securities previously submitted a letter to the SEC in December 2025 opposing the plan, citing potential risks.
Burry compared the potential outcome to a dystopian future, suggesting the proposal could mark a critical juncture for financial markets. The SEC has not yet finalized the plan, leaving its implementation uncertain.