The Federal Reserve has issued new guidance clarifying that its existing capital rules apply to tokenized securities in the same manner as traditional assets. Emphasizing a ‘technology-neutral’ approach, the central bank stated that the use of distributed ledger technology (DLT) or blockchain to record ownership does not inherently alter the risk profile of the underlying financial instrument. Under the clarified framework, banking organizations are expected to maintain the same capital and liquidity buffers for tokenized versions of assets as they would for their conventional counterparts. The Fed noted that while it supports responsible innovation, institutions must ensure that the operational risks associated with new technologies are properly managed. This move provides much-needed regulatory clarity for banks looking to integrate tokenization into their operations, reinforcing the principle that the same activities and risks should be subject to the same regulatory outcomes, regardless of the technology used.
Source: Fed clarifies capital rules for tokenized securities, says framework is ‘technology neutral’
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