The Securities and Exchange Commission (SEC) has proposed a major overhaul of U.S. transfer agent regulations that has not changed significantly in nearly four decades. ^[1] Miami International Holdings, Inc. (MIAX) reported August 2026 trading results for its U.S. exchange subsidiaries including MIAX®, MIAX Pearl®, MIAX Emerald®, MIAX Sapphire®, and MIAX Futures®. ^[2] The MIAX Exchange Group reached a record year-to-date average daily volume of 11.0 million contracts through August 2026, a 25.5% increase from the same period in 2025. ^[3] The proposed regulatory reform updates requirements for registration, reporting, recordkeeping, asset safeguarding, transfer processing, and restrictive-legend requirements across securities markets. ^[4] The SEC proposal explicitly recognizes new technologies such as electronic records and security tokens represented using blockchain within the regulatory framework. ^[5] Transfer agents will now be required to develop written policies and procedures related to the timely registration, cancellation, and processing of all transactions under all operating systems, including blockchain-based transfers. ^[6]