TL;DR
TNCDP, Inc. has submitted a formal comment urging the SEC to consider a five-year pilot for certain SEC-qualified Tier 2 Regulation A securities to trade through regulated tokenized secondary-market infrastructure. The proposal calls for safeguards including registered transfer agents, verified investors, market surveillance, trading controls and transparent blockchain records.
TNCDP, Inc. announced that it has submitted a formal comment to the Securities and Exchange Commission urging the agency to consider a five-year pilot program that would allow certain SEC-qualified Tier 2 Regulation A securities to trade through regulated tokenized secondary-market infrastructure.
The proposal is intended to expand securities-market innovation beyond nationally listed issuers by giving smaller companies a potential pathway to participate in regulated tokenized markets. TNCDP’s comment calls for a pilot structure that combines blockchain-based records with defined securities-market safeguards, including registered transfer agents, verified investors, market surveillance, trading controls and transparent transaction records.
TNCDP’s proposal focuses on certain SEC-qualified Tier 2 Regulation A securities and asks the SEC to evaluate whether a controlled pilot could support tokenized secondary-market infrastructure for qualifying securities. The company’s comment does not call for removing securities-law oversight. Instead, it urges consideration of a bounded framework that would test regulated infrastructure, data transparency and transfer-agent involvement under defined conditions.
The proposal reflects TNCDP’s broader work in Digital Securities and Tokenization. TNCDP operates initiatives across Regulation A and Rule 506(c) capital formation, digital securities, tokenization, Series QDP™ Digital Preferred Securities, Series QDEP™ Digital Rewards Points, digital transfer agent partnerships and agentic AI systems. Within that operating focus, the SEC comment advances a specific policy request: that smaller issuers should have a regulated opportunity to test tokenized secondary-market infrastructure rather than seeing innovation limited primarily to larger public-company securities.
TNCDP’s proposed safeguards are central to the pilot concept. The company’s comment identifies registered transfer agents, verified investors, market surveillance, trading controls and transparent blockchain records as components of the proposed framework. Those safeguards are intended to support SEC evaluation of whether tokenized secondary-market systems can be applied to certain SEC-qualified Tier 2 Regulation A securities.
By submitting the comment, TNCDP is calling for a policy discussion on how tokenized securities infrastructure can be evaluated for companies that are not listed on national exchanges. The company views Regulation A as a relevant market segment for that discussion because the proposal is directed specifically at certain SEC-qualified Tier 2 Regulation A securities.
TNCDP expects tokenized securities policy to remain an important area of regulatory review as market infrastructure, digital transfer-agent models, investor verification systems and blockchain-based records continue to develop. The company’s proposal asks the SEC to consider whether a limited, supervised pilot can help determine how these tools may support compliant secondary-market access for smaller issuers.
Important Notice
TNCDP's submission represents a policy proposal submitted for consideration by the Securities and Exchange Commission. The SEC has not approved the proposed Regulation A Tokenized Secondary Market Pilot, and the submission should not be interpreted as indicating that any such market or exemption currently exists.
This press release is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to purchase any security.
FORWARD-LOOKING STATEMENTS AND SECURITIES DISCLAIMER
This communication may contain forward-looking statements regarding TNCDP, Inc. and its current expectations, plans, objectives and anticipated future activities. Forward-looking statements include statements concerning product development, beta testing, commercial launches, customer adoption, revenues, financing activities, strategic relationships, technology integrations, regulatory matters, capital-raising initiatives and the development of Corp Command, FAM Command, Series QDP™, Series QDEP™ and related agentic-AI and digital-securities infrastructure. Words such as “anticipates,” “believes,” “expects,” “intends,” “plans,” “projects,” “may,” “will,” “could,” “should,” “seeks,” “targets” and similar expressions may identify forward-looking statements.
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