NEW YORK - June 16, 2025 - Fairmint, the leading onchain securities platform and SEC-registered transfer agent, announced its submission of a comprehensive seven-point policy framework to the SEC’s Crypto Task Force, proposing practical steps to modernize America’s $6 trillion private securities market through blockchain technology.
While public markets benefit from regulated infrastructure through DTCC and registered transfer agents, private markets still rely on a fragmented mix of spreadsheets, cap-table vendors, and manual processes with limited regulatory oversight.
“Private companies are managing billion-dollar cap tables in Excel while public companies have regulated infrastructure,” said Joris Delanoue, CEO of Fairmint. “This creates unnecessary friction, compliance gaps, and limits American capital formation.”
Fairmint’s framework addresses concrete operational issues encountered daily in private securities administration:
- infrastructure standardization for interoperability across transfer agents
- real-time regulatory observability through observer nodes
- investor self-custody rights with embedded compliance protections
- knowledge-based accreditation as an alternative to outdated wealth thresholds
- a non-custodial broker-dealer framework for smart-contract intermediation
- a regulated DeFi sandbox for compliant experimentation
- direct-settlement architecture to reduce reliance on legacy intermediaries
The recommendations stem from production systems that already process more than $1 billion in equity onchain. As a registered transfer agent, Fairmint argues that blockchain can enhance investor protections rather than circumvent them by improving auditability, observability, and enforcement.
“This isn’t about competitive advantage. It’s about supercharging private markets through shared infrastructure development while maintaining the regulatory oversight essential for investor protection,” Delanoue added.
The letter submitted to the SEC Crypto Task Force on May 30, 2025 is available here.
About Fairmint
Fairmint pioneers regulated DeFi infrastructure, bringing equity securities onchain. The company makes it easy to issue, manage, and transfer equity while maintaining full regulatory compliance. Fairmint created the Open Cap Table Protocol to help the industry move toward interoperable, programmable equity.
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