SEC Unveils Sweeping Update to Transfer Agent Regulations, Explicitly Including Blockchain

On September 1, 2026, the SEC proposed its most significant modernization of transfer agent rules in over four decades, explicitly incorporating blockchain-based recordkeeping and tokenized securities into the regulatory scope. The 421-page proposal revises rules last updated in the 1970s and 1980s to address distributed ledger technology and blockchain-native transfer agents. A 60-day public comment period is now open for stakeholders to provide feedback.