SEC Says Tokenized Assets Are Securities First, Technology Second

Putting a security on a blockchain does not change its legal status, three SEC divisions said Wednesday, adding that tokenized assets face the same registration requirements as traditional instruments. In a joint staff statement on Wednesday, the agency’s Divisions of Corporation Finance, Trading and Markets, and Investment Management said tokens that represent securities remain subject to federal securities laws. “The format in which a security is issued or the methods by which holders are recorded (e.g., ...