SEC Lets Crypto Bro Extend His Voting Power Till 2030
Published Date: 1/8/2026
Notice
Summary
24X National Exchange is asking to keep a special rule that lets Dmitri Galinov and his team own and vote more shares than usually allowed until December 14, 2030. This means they get extra control over the company for a few more years. If approved, this extension keeps things running smoothly without changing ownership limits for others or affecting money right now.
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Founder Keeps Extra Ownership Until 2030
The filing would extend a temporary exemption that lets Dmitri Galinov and his Related Persons own more than the 40% ownership limit until December 14, 2030. Their current ownership is 43.07% (an excess of 3.07%), and the exemption would remain only so long as their ownership does not exceed 43.07% during that period.
Founder Voting Exemption for Major Deals
The filing would extend a temporary exemption that allows Dmitri Galinov and his Related Persons to exceed the 20% voting limitation for votes only on a merger, consolidation, dissolution, or a sale of all or substantially all assets, until December 14, 2030. The voting exemption only applies so long as their ownership does not exceed 43.07% during the exemption period.
Exchange Avoids Redemption Costs
Extending the exemption would let 24X avoid redeeming Units that exceed the ownership limits, which would otherwise require payment per Unit equal to the lesser of (a) book value or (b) fair market value. The Exchange says those funds could instead be used for the operation and regulation of the Exchange and that the extension may enhance competition.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-19260, Rescission of Rule 14a-8's Federal Regulation of Shareholder Proposals and Amendments to Rule 14a-4
The SEC wants to stop its federal rule that controls how shareholders can make proposals at company meetings, letting state laws and company rules take over instead. They’re also changing rules so companies can sometimes vote on proposals not in their official materials—but shareholders can opt out if they want. This affects investors and companies, with comments open until November 20, 2026, and could shake up how shareholder voices are heard and counted.
2026-18424, Political Contributions by Certain Investment Advisers
The Securities and Exchange Commission (the "Commission" or the "SEC") is proposing to rescind the political contribution rule under the Investment Advisers Act of 1940 (the "Advisers Act"), which prohibits investment advisers from providing investment advisory services for compensation to a government client for two years after an adviser or any covered associate of the adviser makes a contribution to certain categories of elected officials or candidates, among other prohibitions. In the more than fifteen years since the rule was adopted, implementation challenges associated with the political contribution rule have resulted in a range of significant unintended consequences, including compliance practices among some investment advisers that may have had the effect of restricting all political contributions by the investment advisers and their employees. Market participants also have stated that the political contribution rule is burdensome, complex, and both lacks clarity and creates a de facto strict liability standard. The Commission is of the view that other existing requirements of the Advisers Act and its associated rules, including prohibitions on fraud, fiduciary duty requirements, the compliance rule, and the code of ethics rule (defined below), are likely sufficient to address pay-to-play practices while allowing an adviser the flexibility to implement an approach that is more appropriately tailored to its particular risks, rendering the political contribution rule unnecessary. The Commission also is proposing to amend the rule under the Advisers Act pertaining to books and records consistent with the proposed rescission.
2026-18190, Transfer Agent Rules
The U.S. Securities and Exchange Commission ("SEC" or "Commission") is proposing to adopt new rules, amend existing rules, amend the existing form for registration with the Commission as a transfer agent (Form TA-1) and the existing form for reporting activities of transfer agents (Form TA-2), and rescind an existing rule governing registered transfer agents. The proposals are designed to modernize the rules governing registered transfer agents.
2026-17183, Regulation Crypto Assets
The Securities and Exchange Commission ("Commission") is proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. The proposed offering regime is intended to facilitate capital formation and accommodate innovation within the crypto asset markets while, at the same time, ensuring that investors are adequately protected and provided with the information they need to make informed investment decisions. The proposed rules would be set forth in a new regulation titled "Regulation Crypto Assets" and would include two exemptions from the registration requirements of section 5 of the Securities Act of 1933. The first exemption would permit offerings of up to $5 million during a four-year period. The second exemption would permit offerings of up to $75 million during each 12-month period. Under both exemptions, issuers would be required to make certain principles-based narrative disclosures available to their investors. In addition, issuers under the second exemption would be required to provide financial statements and would be subject to ongoing reporting requirements. Issuers that rely on these exemptions would remain subject to the antifraud and antimanipulation provisions of the Federal securities laws. The proposed rules also would include a conditional safe harbor from the term "investment contract" in the definitions of "security" in the Securities Act of 1933 and the Securities Exchange Act of 1934. If the conditions of that proposed safe harbor are satisfied, then a crypto asset would be deemed not to be subject to an investment contract for purposes of those definitions of "security."
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
Previous / Next Documents
Previous: 2026-00141, St. Anthony Hydro LLC; Notice of Application Tendered for Filing With the Commission and Soliciting Additional Study Requests and Establishing Procedural Schedule for Relicensing and a Deadline for Submission of Final Amendments
St. Anthony Hydro LLC has applied to renew its license to run the hydroelectric project on the Henry's Fork of the Snake River in Idaho. The government is asking for any extra study requests by February 23, 2026, to make sure the project stays safe and eco-friendly. This process affects local communities and could impact how the project operates and invests money in the coming years.
Next: 2026-00143, Combined Notice of Filings
The Federal Energy Regulatory Commission got new filings about natural gas pipeline rates from companies like Bridgeline, Gulf South, and Rover Pipeline. These filings could change how much customers pay starting early January 2026. If you want to speak up or get involved, you need to act by mid to late January 2026.