✊ SEC Proposes Blockchain as Primary Ownership Registry for Tokenized Stocks The SEC proposed making blockchain the primary ownership registry for tokenized stocks, per the agency. On-chain data and the official off-chain shareholder list currently coexist, but only the latter carries legal standing. The proposal would update half-century-old transfer agent rules, eliminating the need to maintain and reconcile two lists, while identity checks and transfer restrictions remain in the token. Inheritance requests could be processed in one day instead of three to five days.