SEC Modernizes Rules for Tokenized Securities and 24-Hour Trading
The SEC proposed its first overhaul of transfer agent regulations in 40 years, explicitly citing tokenization as a driver. The new Form TA-2 would require transfer agents to report how many share registers they maintain on distributed ledgers, signaling regulatory acknowledgment of blockchain-based settlement infrastructure.
In parallel, the SEC scheduled a roundtable on round-the-clock U.S. trading, indicating movement toward 24-hour market operations that could reshape how tokenized assets trade domestically. These steps represent a structural pivot toward accommodating decentralized settlement even as enforcement actions continue elsewhere.
Industry Mobilizes Against Novel ETF Crackdown
Industry groups including Grayscale, a16z, and the Crypto Council for Innovation submitted comments urging the SEC to preserve existing fund classifications and avoid treating novel exchange-traded products as a monolithic category. The groups argued that different asset classes warrant different regulatory pathways rather than blanket restrictions.
