US Needs Clear Tokenization Rules or Risk Losing Control

Coinbase Vice Chairman Ryan VanGrack emphasized that tokenization is already a reality in capital markets, rather than something yet to come. In an interview with Bloomberg Crypto on September 8, 2026, he stated that 'onchain finance and tokenization aren't coming - they're here.'

The CLARITY Act, which aims to set clear regulations for the growing market, is not about preparing for the future, but rather about deciding who governs a market that already exists. VanGrack tweeted immediately after the interview, 'The Clarity Act is America's opportunity to set the standard & bring innovation onshore.' He also warned that if the US doesn't take action, capital and talent will follow clear rules elsewhere.

Coinbase has already launched 1:1-backed tokenized stocks, including SPCX, NVDA, GOOG, MSTR, and BMNR. These tokens are redeemable for real shares and eligible for dividends, demonstrating the product's built foundation. The company also secured regulatory approval in Abu Dhabi to offer tokenized securities services.