The ATF, among the many other rule changes, has been looking at making gun transfers between dealers easier. Basically, what they’re looking to do is update the system with newer technology so that the entire process isn’t rooted in the previous century. Fair enough, right?
Well, on Thursday, they announced that the change was being put on pause. Why? They said they were getting a lot of “adverse comments” on it.
In the direct final rule entitled, “Licensee “eZ Check” Verification for Transfers” ATF stated that if significant adverse comments were received by June 5 the rule would not take effect, and ATF would publish a timely withdrawal in the Federal Register. ATF has subsequently… pic.twitter.com/a7dTKYbdyr
— ATF HQ (@ATFHQ) July 8, 2026
That didn’t sit well with some folks. Harold Hutchinson at the Daily Caller wrote a piece about the change titled, “Anti-2A Groups Just Bullied ATF Into Keeping Difficult Process For Gun Transfers,” and I get why. He cites the X post above and how Everytown attacked the change. Considering the ATF said there were “adverse comments,” and that’s why they backed off.
But Hutchinson’s headline might not be a fair assessment of what’s going on.
See, our own Cam Edwards did a little journalism, talked to some sources, and got something interesting.
Just spoke to a source at ATF who says the proposed rule is going to be reissued once some technical language is changed. Sounds like the rule was pulled based on concerns raised by folks within the firearms industry, not objections from the gun control lobby. https://t.co/8G8KNYemYI
— Cam Edwards (@CamEdwards) July 9, 2026
So yeah, there were “adverse comments,” but it seems they came from inside the industry and were regarding some technical language that might have been unclear or something. Once that’s cleaned up, it’ll be reissued, and we’ll go through this whole song and dance all over again.
Again, if Cam’s source is accurate, this wasn’t the anti-gunners bullying the ATF.
Still, it’s also a reminder that the anti-gun side will absolutely bomb the comment period if they can, all to try and stop the ATF from doing things that might make our lives a tad bit easier, even if it won’t have any impact on anything else. Sure, they’ll say the new rules will make crime easier or whatever, but they’ll say that about literally anything that doesn’t explicitly make it harder to get a gun. They’re a scratched record–props if you’re old enough to know that reference–that keeps playing the same part of the song over and over again.
GOA’s Aidan Johnston also addressed this on X, and says that the ATF essentially had no choice but to pull back the rule once it had received even a single comment in opposition.
There’s a lot of panic in the 2A community about this ATF rule on eZ Check “going down” that I would like to address. ⤵️
ATF ran this as a “Direct to Final Rule” which ignores the Notice and Comment requirements of the Administrative Procedures Act. This means, it is guaranteed… https://t.co/mz92D7n4ax pic.twitter.com/Q71uUJACRu
— Aidan Johnston (@RealGunLobbyist) July 9, 2026
ATF ran this as a “Direct to Final Rule” which ignores the Notice and Comment requirements of the Administrative Procedures Act. This means, it is guaranteed to be struck down in court IF CHALLENGED. That’s the key though, if no one challenges it, then the rule can be finalized and the defect in process can cure.Here, the gun grabbers made one comment against the rule. So the standard operating procedure for an agency is to withdraw the Direct to Final Rule. Next, they will re-issue the rule with a proper notice and comment period—that way it will survive scrutiny under the APA. Remember: failure to follow the APA process can get a whole rule stuck down. That’s what happened with the Biden Pistol Brace ban.
Probably, ATF lawyers underestimated that the anti-gunners are as awful and anti-gun as they are. They thought “surely no one will oppose helping FFLs transfer firearms in a more modern and efficient manner.” But it turns out, the gun control lobby is more villainous than expected and opposed the rule anyway. So if the gun grabbers “won” anything at all, it’s just a minor delay.
TL;DR don’t sweat it, the rule is likely just fine and coming back soon.
As it stands, folks need to chill out a bit. I get why people are bothered based on what the ATF said and what groups like Everytown have tried to do, but this isn’t them winning. This is the firearm industry asking for some better language, so the change will work better for them. Honestly, I find it a refreshing change of pace.
The ATF and the gun community never had to be enemies. Yeah, they’re the only law enforcement agency that seeks to restrict a constitutionally protected right, but if they’d focused on criminals all along and stopped trying to make our lives difficult, the animosity wouldn’t be there. For a change, we seem to be getting a glimpse of what that might be like.
I’d still rather they be abolished along with their entire mission–not transferred to someone else, mind you, but eliminated–but until that day, I’d much rather they work with us than against us.
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45 Comments
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I like the balance sheet here—less leverage than peers.
Good point. Watching costs and grades closely.
If AISC keeps dropping, this becomes investable for me.
Good point. Watching costs and grades closely.
Production mix shifting toward USA might help margins if metals stay firm.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Silver leverage is strong here; beta cuts both ways though.
Good point. Watching costs and grades closely.
The cost guidance is better than expected. If they deliver, the stock could rerate.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
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Exploration results look promising, but permitting will be the key risk.
Good point. Watching costs and grades closely.
Nice to see insider buying—usually a good signal in this space.
Interesting update on ATF Steps Back on Rule Change Making Dealer Transfers Easier. What Happened?. Curious how the grades will trend next quarter.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
I like the balance sheet here—less leverage than peers.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
The cost guidance is better than expected. If they deliver, the stock could rerate.
Good point. Watching costs and grades closely.
Uranium names keep pushing higher—supply still tight into 2026.
Good point. Watching costs and grades closely.
Good point. Watching costs and grades closely.
Exploration results look promising, but permitting will be the key risk.
Good point. Watching costs and grades closely.