CFTC Updates Tokenized Assets Guidance Amid Failed Crypto Regulation Bill
The US Commodity Futures Trading Commission (CFTC) has updated its guidance on tokenized assets and blockchain recordkeeping.
In a Thursday notice, the CFTC revised information under its frequently asked questions on registered crypto-related entities.
The updated guidance, released in March but now clarified, states that authorized companies can invest customer funds in tokenized forms if 'the tokenized form of the asset grants the holder legal and economic rights that are the same or functionally equivalent to the rights received by holders of the asset in its traditional form.'
The regulator added that it 'would not object' to companies using blockchain-based recordkeeping under these new rules.
CFTC Chair Michael Selig said the changes were part of efforts 'to provide regulatory clarity for the crypto industry,'