SEC Proposes Rule to Eliminate Dual Record-Keeping for Tokenized Securities

The U.S. Securities and Exchange Commission (SEC) has introduced a proposal that could recognize blockchain as the official legal record for tokenized securities. Currently, issuers of tokenized assets must maintain dual records, including traditional ledgers alongside blockchain entries. If adopted, this 50-year-old rule update would streamline the process by establishing the blockchain as the primary system of ownership.