The U.S. Securities and Exchange Commission is seeking to update its transfer agent rules, which date back to the 1970s, to reflect technologies used for modern securities recordkeeping. The proposal includes changes intended to accommodate blockchain-based systems and tokenization.
Multiple outlets report that the SEC’s effort targets rules that have remained largely unchanged for decades. The draft would address issues such as how transfer agents handle records in an environment where ownership and transaction histories may be tracked through distributed ledger technologies. Coverage also notes that the proposal aims to improve alignment with contemporary market practices, including more automated infrastructure and the use of tokenized assets.
While both sources emphasize blockchain and tokenization as central themes, they differ in emphasis: one frames the action as an update to transfer agent rules for the “blockchain age,” while another characterizes the proposal as a broad modernization covering areas like recordkeeping, tokenized securities, and the operational realities of increasingly automated trading and settlement systems.
