SEC Proposes Modernized Transfer Agent Framework
The SEC has proposed a comprehensive update to transfer agent rules, fundamentally reshaping how securities recordkeeping and settlement operate in an on-chain environment. The proposal directly addresses blockchain-based recordkeeping, tokenized securities, and increasingly automated market infrastructure—areas the existing regulatory framework, largely unchanged since the 1980s, does not adequately cover.
The agency has also scheduled a dedicated roundtable to examine the feasibility and implications of round-the-clock U.S. securities trading. This parallel initiative suggests the SEC is exploring how continuous trading models could function under modernized operational and compliance standards. Together, these actions represent the regulator's acknowledgment that distributed ledger technology and tokenization require explicit policy accommodation rather than continued reliance on legacy frameworks.
Private Investment in Prediction Markets and Treasury Strategies Accelerates
High-profile private capital is flowing into crypto-adjacent platforms and strategies at significant valuations. A fund linked to Donald Trump Jr., 1789 Capital, is reportedly leading a $1 billion investment round in Polymarket, which would value the prediction market platform at $21 billion—approaching Kalshi's $22 billion valuation.
