The SEC Is finally modernizing transfer-agent rules. Wall Street must not repeat the ‘paperwork crisis’
60-second summary
The SEC is finally modernizing transfer‑agent rules, aiming to prevent a “paperwork crisis” as ownership data fragments across token wrappers, SPVs, broker ledgers and off‑chain databases, warns Fairmint’s Joris Delanoue; this regulatory update forces Wall Street to adopt unified digital record‑keeping, reducing compliance risk and supporting smoother tokenized securities market growth.
If ownership data is split across a token wrapper, a special-purpose vehicle (SPV), a broker’s internal ledger and a transfer agent's off-chain database, we are setting the stage for a Paperwork Crisis for the blockchain age, argues Fairmint’s Joris Delanoue.