Modernization of recordkeeping requirements

(a) In general For purposes of books and records requirements for brokers, dealers, and exchanges under the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.), a person may consider records from a blockchain system. (b) Revision of rules Not later than 180 days after the date of enactment of this Act, the Securities and Exchange Commission shall issue and revise such rules as may be necessary to implement this section.

(a) In general For purposes of books and records requirements for brokers, dealers, transfer agents, national securities exchanges under the Securities and Exchange Act of 1934 (15 U.S.C. 78a et seq.), investment advisers under the Investment Advisers Act of 1940 (15 U.S.C. 80b–1 et seq.), and investment companies under the Investment Company Act of 1940 (15 U.S.C. 80a–1 et seq.), a person may, consistent with any rules promulgated under subsection (b), utilize records from a blockchain system. (b) Revision of rules Not later than 180 days after the date of enactment of this Act, the Securities and Exchange Commission shall issue and revise such rules as may be necessary to implement this section.