SEC considers changes to rules governing stock ownership on public blockchains

The U.S. Securities and Exchange Commission is considering changes to long-standing Wall Street rules that could allow public blockchains to play a role in determining who legally owns a stock, according to CryptoSlate. The drafted rule would still require one transfer agent to retain control over the ownership process. Physical addresses would remain the minimum requirement under the proposal. The potential changes concern how stock ownership is recorded and recognized when public blockchain infrastructure is used. The material does not provide a timeline for the SEC’s action, identify the transfer agent, or describe any final decision. The proposal remains a draft, and the supplied information does not indicate that the rules have been adopted or that any specific stock is affected.