SEC Proposes Transfer Agent Rules Amid Blockchain Uptick
The US Securities and Exchange Commission (SEC) has proposed new rules to modernize the regulatory framework for transfer agents, aiming to keep pace with emerging technologies like blockchain. The proposal includes updates to definitions, operational and compliance requirements, and additional disclosures when registering as a transfer agent and filing annual reports.
Separately, the Wyoming Stable Token Commission (WSTC) has added onchain proof-of-reserve controls for the state-issued Frontier Stable Token (FRNT), backed by U.S. dollars and short-term U.S. Treasuries. The WSTC will examine FRNT reserve assets and token-supply balances under AICPA standards, while Chainlink's Proof of Reserve will verify onchain reserve information in near real-time.
The SEC has also announced the agenda and panelists for a 24-hour trading roundtable on September 17, focusing on exchange and broker-dealer readiness, overnight surveillance, and investor protection practices. The roundtable aims to address remaining regulatory gaps before the launch of 24-hour trading.