The SEC proposed on September 1 to allow public blockchains to serve as official shareholder records under regulated transfer-agent oversight, marking the first major overhaul of transfer-agent rules since the late 1970s and early 1980s. The proposal would bring tokenized securities into the legal ownership system while replacing paper-based requirements with electronic recordkeeping standards. Wallet addresses could form part of the identifying information attached to a tokenized security, but traditional identity requirements including full names and physical addresses would remain mandatory. Public comments will be accepted for 60 days after publication in the Federal Register.
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