The SEC approves three major brokerage firms, including Credit Suisse, to use distributed ledger software to settle transactions.

On October 28th, the US Securities and Exchange Commission (SEC) approved three major brokerage firms, Credit Suisse, and Instinet and Société Générale used distributed ledger (blockchain) software to settle transactions. The SEC's approval is the first such approval in the form of a so-called “no action” that will allow brokers to use blockchain systems designed by New York startup Paxos.