The SEC is gearing up for blockchain & 24-hour trading. Here’s what you should know.

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Scott Melker discusses how the US Securities and Exchange Commission (SEC) is preparing to launch blockchain and 24-hour trading.

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SEC proposes to modernize rules for registered transfer agents and SEC announces agenda and panelists for roundtable on preparations for 24-hour trading. The SEC is not stopping.

On the crypto side, they’re not waiting for the Clarity Act, but they are trying to write rules and bring together the industries to make those rules sensible. So the first, the two things here,

this transfer agent news, the SEC has proposed the first major modernization of its transfer agent rules in decades. Now, if you don’t know, transfer agents are the ones who maintain official shareholder records, they process transactions, they distribute the dividends, they manage ownership changes following mergers and other corporate actions. This is a 421-page proposal, but it specifically addresses tokenized securities, blockchains and distributed ledgers, smart contracts, cybersecurity and asset protection, and whether blockchain records can be reconciled with official ownership records.

This is a crypto story. This is the modernization of the financial plumbing of the United States financial system and it’s happening in real time at the SEC. The other story there obviously is the 24-hour trading.

I say to all my friends on Wall Street, welcome to hell.

We’ve been doing this the whole time. You can flip mean coins, <a href="https://xpertsstudio.com/remixpoint-shifts-focus-to-<a href="https://xpertsstudio.com/bitcoin-holds-77000-after-weak-hiring-print/” title=”Bitcoin Holds $77,000 After Weak Hiring Print”>bitcoin-after-selling-altcoin/” title=”Remixpoint Shifts Focus to Bitcoin After Selling Altcoin”>Bitcoin and Ethereum on a Sunday night at 3:00 a.m. when we decide to launch uh, war in Iran.

Well, welcome to the party. You no longer get to go sit in the Hamptons. You are going to have to be at work at 3:00 in the morning on Sunday,

like the rest of us. So clearly we’re uh seeing a wholesale shift in the adoption

not only of the crypto technology underlying, but the 24/7 365 market that has been revolutionized by our industry.

Source: finance.yahoo.com