#cftcupdatesguidanceontokenizedassets

The CFTC’s latest tokenization update is less about crypto tokens — and more about financial plumbing.

On Sept. 24, CFTC staff updated its crypto FAQs to address tokenized forms of permitted investments and blockchain-based regulatory recordkeeping.

But there’s an important condition:

Putting an asset on a blockchain doesn’t automatically make the token equivalent to the underlying asset.

The token still needs to provide the same or functionally equivalent legal and economic rights.

So this isn’t a blanket approval of tokenized assets.

It’s more practical than that: blockchain infrastructure is being fitted into existing regulated-market processes.

And that means tokenization eventually has to handle more than issuance — custody, valuation, segregation, recordkeeping and settlement all matter.

That’s the part I’m watching.

Does tokenization become truly transformative when blockchain stops being the unusual part of the financial system?