# Framework Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Framework", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Regulatory Clarity for Tokenized Securities: Which Hot Projects Won't Pass the SEC's Scrutiny?

The U.S. SEC has issued new guidance clarifying the regulatory treatment of tokenized securities, emphasizing that the use of blockchain does not change the fundamental nature of securities obligations. The guidance distinguishes between two main types of tokenized securities: those led by the issuer (where blockchain is used as a technical upgrade to record ownership registry, without altering rights or regulatory requirements) and those created by third parties (which may not confer direct ownership rights and introduce additional risks such as custody or counterparty risk). The SEC stresses that regardless of the technology used, any asset that meets the definition of a security or derivative remains subject to existing federal securities laws. This move aims to address market confusion, particularly around unauthorized “tokenized stocks” that mimic equity without issuer involvement—such as certain products offered by platforms like Robinhood in Europe or third-party claims of tokenized equity in companies like OpenAI. In contrast, compliant initiatives—such as those by Kraken, NYSE, or DTCC—focus on integrating tokenization within existing regulatory frameworks, ensuring issuer participation and clear accountability. The guidance reinforces that tokenization is not a shortcut to bypass securities laws but must align with legal and economic substance.

Odaily星球日报01/30 03:36

Regulatory Clarity for Tokenized Securities: Which Hot Projects Won't Pass the SEC's Scrutiny?

Odaily星球日报01/30 03:36

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