SEC Proposes Blockchain-Based Stock Records
The US Securities and Exchange Commission (SEC) has proposed an update to its transfer-agent rules, which could lead to blockchain-ledgered records replacing traditional stock records.
Under the draft rule, a transfer agent could maintain its master securityholder file on a blockchain, allowing electronic databases, including blockchain ledgers, to serve as the official record of securities ownership.
This would eliminate duplicate off-chain shareholder records and reduce the need for costly reconciliation. The proposal also recognizes blockchain wallet addresses as valid securityholder contact information.
The SEC's move aligns with broader industry trends, such as Nasdaq's announcement that its venture arm will invest $100 million in Payward (Kraken's parent) to expand tokenized stock infrastructure.