The SEC Is finally modernizing transfer-agent rules. Wall Street must not repeat the ‘paperwork crisis’

The SEC Is finally modernizing transfer-agent rules. Wall Street must not repeat the ‘paperwork crisis’

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Securities and Exchange Commission proposed the first major update to its transfer-agent rules since the late 1970s.

While part of the agency’s ongoing modernization efforts as the world moves from paper records to electronic data, the change is also future-proofing securities rules for the burgeoning world of tokenization.

In the proposal, Chair Paul Atkins notes the official rules should reflect how transfer agents actually work today or will work tomorrow, including their use of “blockchain technology in connection with securities offerings and the transfer of shares.” This is not a blanket endorsement of tokenization, but a recognition of the power of blockchains for record-keeping.

Transfer agents are a critical part of the securities industry, by design.

They keep the official list of who owns what, process transfers, handle restrictive legends and sit inside the national clearance and settlements systems, working with the DTCC.

In other words, they’re the entity — the official register — that proves a share is a share.

Blockchains can be and are being used to improve this system.

Tokens trade continuously 24/7, settle faster and increase distribution.

Analiz: Piyasa hareketliliği devam ediyor.