SEC Aims to Make Blockchain-Ledgered Records the New Stock Record

The US Securities and Exchange Commission (SEC) has proposed an update to its transfer-agent rules, which could modernize the way blockchain-ledgered records are used for tokenized stocks.

According to the SEC's press release, the updated rule would allow electronic databases, including blockchain ledgers, to serve as the official record of securities ownership.

This means that a properly governed blockchain ledger could replace the parallel off-chain shareholder register that tokenized stocks currently maintain.

The proposed change aims to eliminate duplicate records and reconciliation issues, making it easier to clarify legal ownership for tokenized securities.