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<a href="#nyse">NYSE Developing Tokenized Securities Platform; Chainlink Expands TradFi Data</a>

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<a href="#bitcoin">Reports Provide Data and Analyses on Bitcoin, Ethereum and Solana Networks</a>

<a href="#bermuda">Pilot Completes Tokenized Bond Settlement; Bermuda Plans Onchain Economy</a>

<a href="#megprime">No-Action Letter Allows Offers/Sales of MegPrime Tokens Without Registration</a>

<a href="#commodity">Updated Text and Markup Announced for Digital Commodity Intermediaries Act</a>

<a href="#stablecoin">Reports Address Various Aspects of Stablecoin Market</a>

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NYSE Developing Tokenized Securities Platform; Chainlink Expands TradFi Data

By <a href="https://www.bakerlaw.com/RobertAMusiala">Robert A. Musiala Jr.</a>

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The New York Stock Exchange (NYSE) recently announced “its development of a platform for trading and onchain settlement of tokenized securities, for which it will seek regulatory approvals.” According to a press release, the “new digital platform will enable tokenized trading experiences, including 24/7 operations, instant settlement, orders sized in dollar amounts, and stablecoin-based funding.” Subject to regulatory approvals, the platform will support “tokenized shares fungible with traditionally issued securities as well as tokens natively issued as digital securities.”

In related news, Chainlink recently announced the launch of “Chainlink 24/5 U.S. Equities Streams, an expansion of&nbsp;<a href="https://chain.link/data-streams" target="_blank" rel="noreferrer noopener">Chainlink Data Streams</a>&nbsp;that delivers fast and secure market data for U.S. equities and ETFs across all trading sessions.”&nbsp;According to a Chainlink blog post, the new product provides DeFi markets with “secure access to U.S. equity market data that also includes after-hours and overnight sessions, unlocking the ~$80T U.S. stock market onchain.”

For more information, please refer to the following links:

<a href="https://ir.theice.com/press/news-details/2026/The-New-York-Stock-Exchange-Develops-Tokenized-Securities-Platform/default.aspx">The New York Stock Exchange Develops Tokenized Securities Platform</a>

<a href="https://blog.chain.link/chainlink-24-5-us-equities-streams/">Chainlink Brings The $80 Trillion U.S. Stock Market Onchain With 24/5 Equities Data</a>

Reports Provide Data and Analyses on Bitcoin, Ethereum and Solana Networks

By <a href="https://www.bakerlaw.com/RobertAMusiala">Robert A. Musiala Jr.</a><a href="https://www.bakerlaw.com/VeronicaReynolds"></a>

A major U.S. cryptocurrency exchange recently published its&nbsp;Charting Crypto&nbsp;market report addressing Q1 of 2026. The report provides data and charts analyzing various areas of the BTC and ETH markets. Examples are data on BTC monthly spot and derivatives volumes, BTC future and options open interest, ETH supply profitability states, ETH monthly spot and derivatives volumes, and ETH and L2 transactions and user fees.

The report also includes findings from a survey of 148 global investors (75 institutions and 73 non-institutions) on crypto market trends. Key findings from the survey include the following: (1) Around one-quarter of both institutions (26 percent) and non-institutions (21 percent) believe we are in the bear market (markdown) phase of the market cycle; (2) despite market weakness, most investors are sticking with or adding to their crypto allocations, with two-thirds of institutions (62 percent) and non-institutions (70 percent) having either held their existing positions or increased net long exposure since October; and (3) nearly three-quarters (70 percent) of institutions and three-fifths (60 percent) of non-institutions see BTC as undervalued.

In related news, The DeFi Report recently published its Ethereum Q4 and Solana Q4 updates. The reports provide data on each network in various areas, including operating performance, network fundamentals, stablecoins, token economics, DeFi and Layer 2 ecosystems.

<a href="https://assets.ctfassets.net/k3n74unfin40/4AbRPLNhVxHcGnqMz9ld1H/bc629d95eb2b2e0cb61d692a577f3f27/Charting_Crypto_1Q26.pdf">CHARTING CRYPTO: 1Q 2026</a>

<a href="https://thedefireport.io/research/the-watch-list-ethereum-q4-update#operating-performance">The Watch List: Ethereum Q4 Update</a>

<a href="https://thedefireport.io/research/the-watch-list-solana-q4-update#operating-performance">The Watch List: Solana Q4 Update</a>

Pilot Completes Tokenized Bond Settlement; Bermuda Plans Onchain Economy

In a recent press release, a major European bank and Swift announced a collaboration that “successfully completedthe exchange and settlement of tokenized bonds, integrating both fiat currencies and stablecoins&nbsp;as settlement, with Swift playing an orchestration role across blockchain platforms and existing payment systems.” According to the press release, “this initiative showed that tokenized bonds can leverage existing payment infrastructures, enabling financial institutions and corporates to benefit from faster settlements and secure, compliant operational processes through the integration of ISO 20022 standards.”

In other news, according to recent reports, the government of Bermuda is working with a major U.S. crypto exchange and the issuer of the USDC stablecoin to pilot USDC payments across government agencies, expand USDC adoption among Bermuda businesses, and support financial institutions integrating tokenization and other digital finance tools. The Bermuda government reportedly said it plans to bring its national economy “fully onchain.”

<a href="https://www.sgforge.com/sgforge-and-swift-digital-asset-interoperability/">SOCIETE GENERALE-FORGE AND SWIFT MOVE FORWARD IN DIGITAL ASSET INTEROPERABILITY</a>

<a href="https://www.theblock.co/post/386159/bermuda-coinbase-circle-onchain-economy">Bermuda teams up with Coinbase and Circle, aiming to build a ‘fully onchain’ economy</a>

No-Action Letter Allows Offers/Sales of MegPrime Tokens Without Registration

By <a href="https://www.bakerlaw.com/professionals/amos-kim/">Amos Kim</a>

On Jan. 12, the U.S. Securities and Exchange Commission (SEC) Division of Corporation Finance (Division) published a statement in response to a request for no-action relief (No-Action Letter) by MegPrime Holding LLC regarding the company’s proposed issuance of MegPrime tokens. The No-Action Letter requested confirmation that the Division would not recommend enforcement action to the SEC if the company offered and sold the tokens without registration under Section 5 of the Securities Act of 1933 or Section 12(g) of the Securities Exchange Act of 1934.

The No-Action Letter describes the MegPrime tokens as a “tokenized reward solution intended to address the monthly household budget affordability needs of its users.” According to the letter, “[t]he rewards program will be built around the MegPrime token, which will be marketed as a crypto asset that users can spend in their day-to-day purchases and receive digital rewards in two different forms: (1) rewards in the form of additional MegPrime tokens and (2) points that represent, on a 1-to-1 basis, the amount of dollars spent with the MegPrime tokens.” The letter notes that “[i]f users do not spend the MegPrime token with a merchant in a commercial transaction, they will not receive any rewards.” The No-Action Letter asserts that the tokens are intended for consumption in day-to-day purchases and related rewards benefits, rather than for investment, and would be marketed to emphasize this utility over any potential for appreciation in value.

Based on the facts presented, the Division confirmed that it would not recommend enforcement action to the SEC if the company offers and sells the MegPrime tokens in the manner described without registration under Section 5 of the Securities Act or Section 12(g) of the Exchange Act. The Division noted that its position is strictly based on the representations made in the company’s letter and that any different facts or conditions might require a different conclusion.

<a href="https://www.sec.gov/rules-regulations/no-action-interpretive-exemptive-letters/division-corporation-finance-no-action/megprime-holding-llc-011526">MegPrime Holding LLC</a>

<a href="https://www.sec.gov/files/corpfin/no-action/megprime-request-final-011226.pdf">Re: MegPrime Holding LLC</a>

Updated Text and Markup Announced for Digital Commodity Intermediaries Act

On Jan. 21, the <a>U.S. Senate Committee on Agriculture, Nutrition, and Forestry </a>published a press release announcing that Chairman John Boozman, R-Ark., has released updated&nbsp;<a href="https://www.agriculture.senate.gov/imo/media/doc/digital_commodity_intermediaries_act.pdf">legislative text</a>&nbsp;that builds on a previously released bipartisan discussion draft that would give the Commodity Futures Trading Commission new authority to regulate digital commodities under legislation referred to as the Digital Commodity Intermediaries Act. According to the press release, a markup of the bill is scheduled for Jan. 27.

For more information, please refer to the following link:

<a href="https://www.agriculture.senate.gov/newsroom/rep/press/release/chairman-boozman-unveils-updated-market-structure-legislation-schedules-business-meeting">Chairman Boozman Unveils Updated Market Structure Legislation, Schedules Business Meeting</a>

Reports Address Various Aspects of Stablecoin Market

Multiple recently published reports address various aspects of the stablecoin market. Global Digital Finance published its Global Stablecoin Regulatory Playbook, which a press release describes as “a comprehensive policy framework designed to support the development of clear, credible, and globally interoperable regulatory regimes for fiat-backed stablecoins.” The report includes chapters on stablecoin legal classification and taxonomy, reserve asset composition, custody, disclosures and attestations, risk mitigation and prudential requirements, redemption models, anti-money laundering compliance, rewards and yield, and international market dynamics.

Another report published by the Wharton School of Business is titled The Stablecoin Toolkit. The report “provides a comprehensive overview of the stablecoin world today, including the business ecosystem, categories of approaches, and use cases.” The report is the first in a series, with the second report set to address “the legal and regulatory considerations for stablecoins, highlighting approaches in major jurisdictions.”

A third recent report, published by blockchain analytics firm Elliptic, is titled How To Safely Issue and Bank Stablecoins. According to a blog post, the report includes current regulatory requirements across the U.S., EU, Hong Kong and other key jurisdictions; financial crime typologies affecting stablecoins, from sanctions evasion to cyber scam operations; how to incorporate blockchain monitoring into your risk management framework; and case studies showing how threats unfold and how to detect them.

<a href="https://www.gdf.io/wp-content/uploads/2020/12/PressRelease_GlobalStablecoinPlaybook_22.01.26.pdf">PRESS RELEASE – GDF Launches Global Stablecoin Regulatory Playbook at Davos</a>

<a href="https://www.gdf.io/wp-content/uploads/2026/01/GDFGlobalStablecoinWG_Regulatory-Playbook_21.01.26.pdf">JANUARY 2026 GLOBAL STABLECOIN REGULATORY PLAYBOOK</a>

<a href="https://bdap.wharton.upenn.edu/wp-content/uploads/2026/01/Stablecoin-Toolkit.pdf">The Stablecoin Toolkit</a>

<a href="https://www.elliptic.co/resources/how-to-safely-issue-and-bank-stablecoins">How to safely issue and bank stablecoins</a>

Weekly Blockchain Blog – January 26, 2026