The US SEC plans to revise the transfer agency rules to incorporate blockchain technology into the securities system

On September 1st, the US SEC proposed the first major revision of transfer agency rules since the 1970s, aimed at incorporating blockchain technology into the securities registration and settlement system. The proposal requires transfer agents to avoid the risk of ownership data fragmentation when using distributed ledger technology to record and transfer securities in the future. Fairmint advocates using on chain cap tables as the official ledger required by Section 17A of the Exchange Act. (Source: Bloomberg)