SEC Proposes Moving Share Ownership to Blockchain

The U.S. Securities and Exchange Commission (SEC) has proposed a new regulation aimed at aligning the infrastructure of traditional financial markets with blockchain technology. The proposal, published on September 1, seeks to modernize transfer agent rules that date back to the 1970s. Transfer agents are critical institutions that record ownership of shares and manage share transfers for publicly traded companies. The new regulation will redefine how this structure works with blockchain and tokenized securities. The SEC is focusing on changes that will facilitate the tokenization of shares and is opening up the use of digital wallet addresses instead of traditional information for shareholders. However, the regulation has not yet come into effect and is still in the proposal stage. A 60-day public comment period will begin following the proposal's publication in the Federal Register. If the regulation is accepted, the integration of tokenized shares into the U.S. traditional capital market infrastructure could be eased. Additionally, the SEC will hold a roundtable meeting in Washington on September 17 to evaluate potential regulations for 24-hour trading.

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