🚨 The SEC wants to turn blockchain ledgers into a “legal register” for stocks—will the biggest loophole in tokenized stocks finally be fixed?
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👀 One-sentence update: The U.S. SEC has proposed new rules allowing electronic databases—including blockchain ledgers—to serve as the official record of securities ownership, meaning on-chain records would be recognized as the “primary shareholder register.”
📊 Putting numbers to it: Tokenized stocks have long had two sets of records: one on-chain mapping which wallet holds the tokens, and another—kept by brokers and transfer agents—as the legal record. The two sides have to be continuously reconciled. This new proposal would merge them into a single system, reducing reconciliation costs and, importantly, lowering legal risk that the two sets of records could conflict with each other in bankruptcy.
🔥 What’s really at stake: The core issue being targeted is the old problem of “1:1 backing doesn’t mean 1:1 ownership.” Fairmint’s CEO put it plainly: asset backing on a 1:1 basis doesn’t automatically mean investors own on a 1:1 basis. Only if the on-chain ledger becomes the legal record will ownership determination truly be “grounded” in practice. Updated custody rules are also being advanced, and they are currently under review by the White House OIRA, with publication expected before October.
💡 What’s truly worth paying attention to isn’t just the proposal itself, but the fact that regulators are, for the first time, conceding that “on-chain is the truth.” For platforms issuing tokenized stocks, the compliance ceiling just got raised. Still, a reminder: even if the on-chain ledger becomes the primary register, transfer agents must keep their control books and transfer logs—they aren’t emptying the whole record system.
⚠️ Cold shower: This is still only a proposal. Implementation will go through a process, and the applicable conditions and scope may change. And once an on-chain record is wrong, the cost and difficulty of correction are far higher than with centralized databases. If anything goes wrong—private keys, cross-chain bridges, or contract vulnerabilities—any error could become a “legal record” error.
👀 One side says this is a pass to make tokenized stocks mainstream; the other says that if on-chain goes wrong, you can’t roll it back. Which side are you on? Let’s discuss in the comments.
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#代币化股票持有者增长619.1% #RWA #加密市场
Group: 点击进入玖玖的粉丝群
👀 One-sentence update: The U.S. SEC has proposed new rules allowing electronic databases—including blockchain ledgers—to serve as the official record of securities ownership, meaning on-chain records would be recognized as the “primary shareholder register.”
📊 Putting numbers to it: Tokenized stocks have long had two sets of records: one on-chain mapping which wallet holds the tokens, and another—kept by brokers and transfer agents—as the legal record. The two sides have to be continuously reconciled. This new proposal would merge them into a single system, reducing reconciliation costs and, importantly, lowering legal risk that the two sets of records could conflict with each other in bankruptcy.
🔥 What’s really at stake: The core issue being targeted is the old problem of “1:1 backing doesn’t mean 1:1 ownership.” Fairmint’s CEO put it plainly: asset backing on a 1:1 basis doesn’t automatically mean investors own on a 1:1 basis. Only if the on-chain ledger becomes the legal record will ownership determination truly be “grounded” in practice. Updated custody rules are also being advanced, and they are currently under review by the White House OIRA, with publication expected before October.
💡 What’s truly worth paying attention to isn’t just the proposal itself, but the fact that regulators are, for the first time, conceding that “on-chain is the truth.” For platforms issuing tokenized stocks, the compliance ceiling just got raised. Still, a reminder: even if the on-chain ledger becomes the primary register, transfer agents must keep their control books and transfer logs—they aren’t emptying the whole record system.
⚠️ Cold shower: This is still only a proposal. Implementation will go through a process, and the applicable conditions and scope may change. And once an on-chain record is wrong, the cost and difficulty of correction are far higher than with centralized databases. If anything goes wrong—private keys, cross-chain bridges, or contract vulnerabilities—any error could become a “legal record” error.
👀 One side says this is a pass to make tokenized stocks mainstream; the other says that if on-chain goes wrong, you can’t roll it back. Which side are you on? Let’s discuss in the comments.
Click the profile picture to watch the live stream + join the Jiuji chat group for daily strategies 🚀
#代币化股票持有者增长619.1% #RWA #加密市场
