SEC Proposal Paves Way for Blockchain Ownership Records

The US Securities and Exchange Commission (SEC) has proposed a broad modernization of rules governing registered transfer agents, which could make blockchain an official ownership record.

The proposal, published on September 1, addresses electronic communications, digital recordkeeping, tokenized securities, distributed ledger technology, risk controls, and transfer-agent reporting.

One key change would allow transfer agents to use distributed ledger technology within the master securityholder file, which remains the authoritative record of registered owners.