Fairmint Challenges SEC: "Modernize Private Equity with Blockchain or Get Left Behind!"

Revolutionary 7-Point Plan Targets $6 Trillion Market

Hold onto your hats, folks! Fairmint, the trailblazing onchain securities platform, just threw down the gauntlet at the SEC's feet. They're demanding a blockchain-powered regulatory shake-up to drag private equity markets kicking and screaming into the 21st century.

On June 16, these blockchain mavericks, who also happen to be SEC-registered transfer agents, dropped a bombshell on the SEC's Crypto Task Force. Their audacious seven-point policy proposal? Use blockchain tech to blow up the ancient administrative systems bogging down the $6 trillion U.S. private securities market.

Fairmint didn't mince words in their submission to SEC heavyweights Paul Atkins and Hester Peirce. They laid bare the operational nightmares plaguing private markets and served up solutions they swear can be rammed through under existing rules.

Get this: Fairmint says the private sector is still stuck in the dark ages, clinging to clunky, spreadsheet-driven systems with zero settlement mojo. It's a mess that strangles efficiency and leaves regulators in the dark. Meanwhile, public markets are living the high life with slick, regulated infrastructure.

Their seven-part framework? It's a game-changer, promising to wrangle transfer agents into line, give regulators real-time X-ray vision, and throw open the doors to investors.

Fairmint's opening salvo? A call to arms for a unified private market infrastructure through mind-meld level interoperability, kissing those fragmented systems goodbye.

To keep the SEC's eyes peeled, they're pushing for blockchain-based observer nodes that'll let regulators snoop on transactions in real-time, all while keeping your privacy intact. And they're all in on letting investors be their own bosses with self-custody, complete with compliance baked right in.

But wait, there's more! Fairmint's not afraid to ruffle feathers, challenging the old-school investor qualification game. They want to swap out those dusty wealth thresholds for a brain-based accreditation model that puts competency in the driver's seat.

These innovators aren't stopping at the status quo. They're dreaming up a non-custodial broker-dealer setup for smart contract-powered deal-making and pushing for a supervised DeFi playground where the wild ones can experiment without burning down the house.

And for the grand finale? Fairmint's calling for the death of traditional clearing systems, replaced by a slick, smart contract-driven direct settlement architecture that'll leave intermediaries in the dust.

Adopt their plan, Fairmint says, and the SEC can turbocharge market integrity, slash red tape, and let innovation run wild through secure, onchain magic.

With digital assets gaining steam, Fairmint's not alone in this fight. They're part of a growing army of firms screaming for policy reform. And guess what? The Trump administration's SEC is listening, with their Crypto Task Force in full swing, hunting for fresh policy ideas and ways to modernize their oversight game.

Since they hit the ground running, this Crypto Task Force has been all ears, soaking up industry insights and hosting a series of regulatory pow-wows with everyone from tech wizards to Wall Street suits. They're diving deep into tokenization, DeFi, and how to apply existing securities laws to these blockchain beasts.