$INJ Injective becomes the first L1 blockchain to secure SEC transfer agent status.
Zero other Layer 1 blockchains currently hold SEC-registered transfer agent status.
The registration does not make INJ a security. It means the Injective blockchain itself - through its designated transfer agent entity - can now perform the record-keeping and transfer functions that the Securities Exchange Act of 1934 assigns to registered transfer agents.
Injective's move comes as the SEC has signaled that many crypto tokens may meet the Howey test for investment contracts.
The regulatory mechanism Rule 17Ad-17 under the Securities Exchange Act requires transfer agents to register with the SEC, file Form TA-1, and comply with rules on safeguarding funds and securities, prompt transfer processing, and annual audited financial statements.
Will this
$INJ #INJ #CryptoRegulation #CryptoNews
Zero other Layer 1 blockchains currently hold SEC-registered transfer agent status.
The registration does not make INJ a security. It means the Injective blockchain itself - through its designated transfer agent entity - can now perform the record-keeping and transfer functions that the Securities Exchange Act of 1934 assigns to registered transfer agents.
Injective's move comes as the SEC has signaled that many crypto tokens may meet the Howey test for investment contracts.
The regulatory mechanism Rule 17Ad-17 under the Securities Exchange Act requires transfer agents to register with the SEC, file Form TA-1, and comply with rules on safeguarding funds and securities, prompt transfer processing, and annual audited financial statements.
Will this
$INJ #INJ #CryptoRegulation #CryptoNews