链捕手ChainCatcher

According to a ChainCatcher report, the U.S. Securities and Exchange Commission (SEC) proposed a new rule last week to comprehensively revise the transfer-agent rules that have been in place for decades. For the first time, it would explicitly allow electronic databases, including blockchain ledgers, to serve as the official record of securities ownership. If the proposal is approved, blockchain could become the “primary securities document,” replacing the off-chain parallel ownership records that tokenized securities currently still rely on.
Many tokenized securities currently operate on two sets of records: an on-chain token ledger and an official shareholders’ register. After a proposal is approved, the issuer and the transfer agent (or, in some cases, no longer the need to) maintain duplicate records and reconcile them after each transfer. This reduces operational friction and the risk of inconsistencies between on-chain records and legally recognized records. Eli Cohen, Chief Legal Officer of tokenized fund platform Centrifuge, said the proposal could turn the current “two-step” process into a “one-step” process, with the blockchain itself serving as the primary securities document.

ChainCatcher message: Valinor Digital announced the launch of the tokenized fund Valinor BDC Exposure Fund (VBDC). The fund holds a basket of publicly listed business development company (BDC) stocks, providing eligible investors with exposure to private credit return opportunities and supporting daily subscriptions and redemptions. The fund is issued as a series of Superstate Asset Trust, is custodied on Superstate’s FundOS platform, and is managed by Valinor Digital Capital.
On top of the existing fee structure for BDCs, VBDC additionally charges a 1.25% management fee, with a daily redemption limit of 7.5% of the net asset value. As of now, none of the fund’s 499,157 shares have been tokenized. The VBDC token contract was deployed on Ethereum on September 1. The total supply is zero and there are no transfer records. The Superstate assets page will mark the DeFi integration as “coming soon.”

ChainCatcher message: On Wednesday, the UK House of Lords passed an amendment by 194 votes to 138, requiring the government to develop a digital asset strategy, despite opposition from the ruling Labour Party.
The amendment was introduced by Conservative peer Baroness Neville-Rolfe. It calls on the UK Treasury to, within 12 months after the (Financial Services and Markets Act) takes effect, develop, publish, and seek public input on the strategy. The strategy will cover crypto assets, stablecoins, and tokenized securities, and will touch on issues including innovation, consumer protection, and enabling businesses to access banking, payments, and settlement services. The related bill still needs to be submitted to the House of Commons, where MPs may accept it, amend it, or reject the Lords’ amendments. The UK Cryptoassets Business Council said it supports the outcome of the vote. Earlier, Lord Stockwood, the Treasury minister for investment affairs, had said the government already has a digital asset strategy and is implementing it.