[U.S. Securities and Exchange Commission Proposes Updating Transfer Agent Rules to Include Blockchain in Regulatory Framework] On September 1, the U.S. Securities and Exchange Commission (SEC) proposed the first major update to transfer agent rules since the 1970s. Chairman Paul Atkins suggested that the rules should encompass the application of blockchain technology in securities issuance and equity transfers. Fairmint co-founder Joris Delanoue pointed out that tokens should serve as the official ledger required under Section 17A of the Securities Exchange Act and recommended that the SEC distinguish between native on-chain registrations and third-party wrapping models in Form TA-2, allow the use of cryptographic credentials, and incorporate pre-trade restrictions of smart contracts into compliance enforcement mechanisms. (Source: Bloomberg)