PANews reported on March 27th, citing Cointelegraph, that TD Securities warned that Nasdaq's tokenization plans could lead to a dual market structure in the US, with traditional exchanges and blockchain trading platforms operating in parallel. Reid Noch, Vice President of US Equity Market Structure at TD Securities, pointed out that Nasdaq is pursuing three initiatives: upgrading its trading and settlement processes, supporting companies issuing tokenized shares, and promoting trading on offshore platforms such as Kraken. The firm believes that while tokenized shares are backed by real stocks, they operate outside the US regulatory framework, potentially leading to price discrepancies for the same asset on different platforms, a potential outflow of trading activity from traditional exchanges, and reduced market predictability.