TAs aren't directly involved with buying and selling, so there'll be no immediate effect. BUT you need a TA (or need to be self-transfer) if you want to issue any stock.
IF we no longer have a TA how are buys and sells still going through?
Here's the deal on self-transfer: you can issue up to 500 certificates, but after that you have to apply to the SEC to become formally self-transfer. I no longer remember what that entails; maybe I'll look it up later.
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