The US Securities and Exchange Commission (SEC) has announced a proposal to modernize the registration and reporting requirements for Transfer Agents of securities, Crypto Briefing reported. This is the biggest regulatory overhaul since the 1970s. In particular, the regulatory body officially requested industry feedback on how to incorporate blockchain-based record keeping, distributed ledger technology (DLT), and other related aspects into existing regulations in this proposal. The media explained, "The reason this proposal is significant in the cryptocurrency market is that the SEC is directly addressing the issue of tokenization. The regulatory body is requesting opinions on how the role of transfer agents should change as securities transactions move on-chain."
