Fed Clarifies Stance: Tokenized Securities to Be Treated Equally Under Capital Rules

New Regulatory Direction: Technology No Longer Determines Capital Treatment

The U.S. Federal Reserve has issued a significant policy update, clarifying that tokenized securities must not be treated differently from traditional ones under bank capital rules. This move strengthens confidence in the合规 evolution of digital financial assets.

Technology Neutrality Becomes Operational

In its latest Q&A document, the central bank emphasized that whether a security is issued or transferred via blockchain or legacy systems, the capital measurement remains unchanged. As long as legal and risk management standards are met, tokenized instruments can qualify as eligible collateral.

• Tokenized securities receive identical capital treatment as traditional counterparts
• No distinction between permissioned and permissionless blockchains
• Technical infrastructure does not alter regulatory eligibility

This sends a clear message: regulatory focus lies on asset fundamentals and risk control, not technological form. The decision is expected to accelerate the integration of tokenized securities into mainstream finance.