The SEC has proposed a rule allowing electronic databases, including blockchain ledgers, to serve as the official record of securities ownership. Tokenized stocks currently have two separate records: one on the blockchain and another maintained by a legally recognized transfer agent. This proposal aims to eliminate duplicate ownership registers, reducing legal and operational risks, especially in bankruptcy scenarios. Fairmint co-founder Joris Delanoue has emphasized that me: « 1:1 backed is not the same as 1:1 ownership » of the underlying asset. The SEC is also revisiting crypto custody rules, with amendments expected by October 2026.
Source: Read the original article
