The US Securities and Exchange Commission has proposed a major overhaul of transfer-agent rules as blockchain-based recordkeeping and tokenized securities gain traction in US financial markets.
The proposal would modernize requirements for registration, recordkeeping, asset safeguarding and securities transfers, while introducing new standards addressing cybersecurity, operational resilience and the use of third-party service providers.
The SEC specifically highlighted growing demand for “onchain” transfer agents, tokenized fund administration and cross-chain systems, saying existing rules — largely written in the late 1970s and early 1980s — are not designed for today’s digital market infrastructure.
The agency is seeking public feedback, with comments due 60 days after the proposal is published in the Federal Register. The move is part of a broader SEC effort to simplify and modernize securities regulation, including proposed changes to public-company reporting and crypto custody rules.
The proposal would modernize requirements for registration, recordkeeping, asset safeguarding and securities transfers, while introducing new standards addressing cybersecurity, operational resilience and the use of third-party service providers.
The SEC specifically highlighted growing demand for “onchain” transfer agents, tokenized fund administration and cross-chain systems, saying existing rules — largely written in the late 1970s and early 1980s — are not designed for today’s digital market infrastructure.
The agency is seeking public feedback, with comments due 60 days after the proposal is published in the Federal Register. The move is part of a broader SEC effort to simplify and modernize securities regulation, including proposed changes to public-company reporting and crypto custody rules.