SEC clears a path for tokenized U.S. stocks on public blockchains; corporate bitcoin buying cools; Treasury alleges Iran used a crypto exchange for Hormuz tolls

The SEC's move toward allowing real tokenized U.S. equities to trade on public blockchains is a major regulatory signal that could expand compliant on-chain capital markets infrastructure. Offsetting this, reports of sharply slowing corporate bitcoin accumulation reduce an important structural demand narrative. Separately, Treasury claims of Iran routing Strait of Hormuz toll payments via a crypto exchange heighten sanctions-enforcement and compliance risk for the sector.