SEC Proposes Blockchain Ownership Records for Tokenized Securities

The U.S. Securities and Exchange Commission has proposed changes to transfer agent rules that would allow blockchain technology to be used as an official recordkeeping method for securities ownership.

The proposed amendments aim to modernize decades-old rules to reflect the growing use of tokenized securities and blockchain platforms.

Under the plan, transfer agents would have to report to the SEC the number of tokenized securities they manage and the blockchain platforms used for those securities.

The proposal is seen as a significant step towards establishing a regulatory framework for recognizing blockchain as an official ownership ledger in the issuance and distribution of tokenized securities.