SEC Seeks to Update Its 1970s-era Transfer Agent Rules for the Blockchain Age
Regulation
“The U.S. Securities and Exchange Commission is seeking to update its rules for transfer agents to keep pace with new technology, including blockchain and tokenization. On Tuesday, the SEC proposed changes to its transfer agent rules, which it says have not been significantly updated since the rules were proposed in the late 1970s. Transfer agents serve as recordkeepers for securities, maintaining ownership records and handling corporate actions such as mergers and dividend distributions. They also play a key role in the clearing and settlement process. 'This proposal would streamline and modernize the Commission’s rules to reflect transfer agents’ current processes and operations, including the use of electronic communications and blockchain technology in connection with securities offerings and the transfer of shares,' said SEC Chair Paul Atkins in a statement.”
Source: The Block
LSE to Roll Out Tokenized Stocks in Push Into Digital Assets
Tokenization
“The London Stock Exchange is planning to launch tokenized stocks, backed by shares of London-listed companies, as it looks to further embrace digital assets. The bourse is partnering with financial infrastructure platform Payward — the parent company of crypto exchange Kraken — to roll out tokens on its overnight trading venue, according to a statement Tuesday. The tokens are set to launch next year, pending regulatory approval. Many exchanges, banks and asset managers have turned to blockchain-enabled technology to speed up certain processes. Tokenization — the process of issuing and transferring traditional assets like stocks and bonds on blockchain — is seen as a way to attract more investors and increase trading capabilities outside of regular market hours.”
Source: Bloomberg
Goldman Sachs, BofA and Others Plan to Issue Dollar Stablecoin Together in 2027
Stablecoins
“A group of 21 financial institutions including Goldman Sachs, Bank of America, Citi and Deutsche Bank plan to create a company this year to issue a cryptocurrency pegged to the dollar in the first half of 2027, they said on Tuesday. The group, which was first announced in October 2025 when just 10 banks were involved, said in a statement that it also aims to expand into stablecoins pegged to other G7 currencies, including the euro as a priority. Stablecoins are used to move money around the world in the form of cryptocurrency, and are mostly used in crypto trading. But a rebound in crypto prices in 2024 and U.S. President Donald Trump's support for the sector sparked a revival of interest in the idea of using blockchain in the mainstream financial system.”
Source: Reuters
Singapore Advances Stablecoin Rules as Global Adoption Picks Up
Stablecoins
“Singapore has opened a new version of its proposed stablecoin regime to public consultation, as the city-state takes another step in the race to build infrastructure around the rapidly expanding asset class. The Monetary Authority of Singapore on Tuesday published the latest proposed legislative amendments to the Payment Services Act, which would introduce a long-awaited stablecoin regulatory framework. The changes would establish the legal basis for regulating stablecoins issued in Singapore. The MAS first announced the framework in 2022, but no time frame has been set for passing it into law. The latest changes would prohibit stablecoin issuers from paying interest on regulated stablecoins and require stress testing. Licensed issuers would also need plans in place for recovery and orderly winding down.”
Source: Bloomberg
Binance Adds Options on 1,000 US Stocks and ETFs as Monthly TradFi Perpetual Volume Hits $433 Billion
Exchanges
“Binance is adding options on more than 1,000 U.S. stocks and exchange-traded funds as the crypto exchange expands its traditional finance offering amid a sharp rise in trading activity for such products. The options will be offered through Nest Trading Limited, Binance's broker-dealer regulated by the Abu Dhabi Global Market. Nest will act as the introducing broker, routing orders to U.S.-registered Alpaca Securities for execution, clearing, settlement, and custody. The products will not be available to U.S. users, according to a statement shared with The Block. The contracts are physically settled, meaning that, upon exercise, users receive or deliver the underlying shares of supported U.S.-listed stocks and ETFs, held in custody by Alpaca on behalf of Binance users. Retail users eligible for options trading will be able to buy calls and puts, with maximum potential loss limited to the premium paid, Binance said, adding that it expects additional stock options listings over time.”
Source: The Block
