SEC proposes major overhaul of transfer agent rules with blockchain provisions

The U.S. Securities and Exchange Commission has proposed updating transfer agent regulations that have remained largely unchanged since the 1980s, according to Cointelegraph. The broad review would address how transfer agents maintain and process ownership records as market infrastructure becomes more automated. It also includes provisions related to blockchain-based recordkeeping and tokenized securities, reflecting changes in how financial assets may be issued, recorded and transferred. The proposal is focused on modernizing the regulatory framework for transfer agents rather than introducing a specific cryptocurrency policy. Its potential significance for digital-asset markets lies in the agency’s recognition of blockchain systems and tokenized instruments within rules governing securities records and related administrative functions. The source did not provide details on the proposal’s timetable, implementation requirements or expected effect on individual cryptoassets.