According to BlockBeats, on September 11, the Trump administration announced on September 10 that it would issue a one-time "refund" of $500 to nearly 1 million Affordable Care Act (Obamacare) participants, expected to be distributed in October, just weeks before the US midterm elections.

Eligible consumers primarily include those who purchased Obamacare insurance through HealthCare.gov, have incomes approximately four times the federal poverty line, and did not receive federal subsidies; this covers 30 states. The White House stated that this money is a refund of previously collected but unused healthcare market operation fees from the federal government, arguing that these costs should ultimately be borne by consumers.

However, this policy has also sparked controversy. Health policy experts point out that the Biden administration had actually lowered rates for ACA (Australian Health Insurance) market users, and these costs were not the main reason for this year's surge in premiums. Meanwhile, with the expiration of additional health insurance subsidies, many consumers faced premium increases of thousands of dollars this year, and the $500 refund only covers a small portion of that.

It's worth noting that Trump's announcement of the refund comes just before the midterm elections. Previously, Trump had also proposed distributing a $5,000 "bonus" to American families if the Republicans retain control of Congress in the November midterm elections. With healthcare and the cost of living continuing to be key concerns for voters, the Trump administration is increasing its efforts to provide direct economic benefits to the public.

According to BlockBeats, on September 11, the U.S. Securities and Exchange Commission (SEC) recently proposed reforms to the rules governing registered transfer agents, aiming to explicitly allow electronic databases, including blockchain, as official records of securities ownership.

Currently, tokenized securities often exist simultaneously on an on-chain token ledger and an off-chain official shareholder register. These two systems require continuous verification, increasing operational costs and legal risks. If the new regulations are approved, the blockchain is expected to directly become the "master record" of securities, eliminating the need to maintain a duplicate off-chain ownership record for tokenized securities. SEC Chairman Paul Atkins stated that this reform aims to adapt transfer agent rules to the development of electronic records and blockchain technology.

However, this does not mean that tokenized securities will become completely permissionless assets. Issuers and transfer agents will still be required to comply with regulatory requirements such as investor identity verification, transfer restrictions, inheritance, and shareholder notification. Blockchain's primary role is to serve as a legally recognized infrastructure for recording ownership.

The SEC has previously stated that, provided the requirements of federal securities laws regarding record keeping, reporting, and review are met, registered transfer agents can use distributed ledgers as official shareholder registers without needing to maintain an additional off-chain "digital twin" record.

This proposed rule is open for public comment for 60 days. If ultimately implemented, blockchain will further evolve from a mere "technical shell" for tokenized securities into an integral part of the US securities market infrastructure, clearing significant legal and operational obstacles for the full on-chaining of traditional assets such as stocks and funds.