SEC Proposes Overhaul of Decades-Old Transfer Agent Rules to Address Blockchain and Tokenization
The Securities and Exchange Commission proposed updates to the rules and forms governing registered transfer agents, according to an SEC press release. Transfer agents are described by the agency as a key component of the national clearance and settlement system, and the SEC said they now perform a more diverse range of functions than when the rules were written.
The Block reported the rules date to the 1970s, while Cointelegraph said they have remained largely unchanged since the 1980s. Cointelegraph reported the proposal addresses blockchain-based recordkeeping, tokenized securities, and increasingly automated market infrastructure.
CoinDesk reported the SEC also set an event aimed at working out how to accommodate round-the-clock trading in U.S. markets, alongside the transfer agent proposal.
Sources: SEC Press Releases, The Block, Cointelegraph, CoinDesk
This article is for information only and is not financial advice.
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US Securities and Exchange Commission
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