Fed clarifies capital rules for tokenized securities
The U.S. Federal Reserve (Fed) has issued a clarification regarding the rules for using tokenized securities as financial collateral. According to the statement, such instruments can qualify by analogy with traditional securities if certain requirements are met.
Tokenization of securities is one of the key trends in the digital finance space. This technology allows representing traditional financial instruments, such as stocks or bonds, in the form of digital tokens on the blockchain. This opens up new opportunities for their circulation, storage and use as collateral.
In its clarification, the Fed noted that tokenized securities can meet the requirements for financial collateral if they meet criteria such as:
- Ability to be quickly liquidated without significant loss of value
- Availability of a reliable system for accounting and storage of tokens
- Ability to quickly convert tokens into cash
Thus, the regulator recognized tokenized securities as an equal instrument along with traditional financial assets. This is an important signal for the development of the digital finance market, as it opens up new opportunities for their use in various transactions.
Experts positively assess this decision of the Fed, noting that it demonstrates the regulator's flexibility in adapting to technological changes. However, there are still a number of issues that require additional clarification, particularly regarding supervision and risks associated with tokenized securities.