The Securities and Exchange Commission (SEC) proposed on September 1st a complete overhaul of its regulatory framework governing the 273 registered transfer agents in the United States, intermediaries whose rules dated back to the 1970s-1980s. The proposal aims to integrate blockchain technology and dematerialized securities, as market participants are already seeking to introduce blockchain-native transfer agents on the American market. Five concrete projects are underway, including enhanced requirements for risk management, cybersecurity and compliance, as well as the removal of preferential treatment for smaller actors. The public consultation remains open for 60 days after publication in the Federal Register. This initiative is part of a series of measures taken under Chairman Paul Atkins to simplify regulation and promote the tokenization of financial markets.
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