U.S. banking regulators have explained how tokenized securities—basically blockchain versions of traditional assets like stocks or bonds—should be treated under current capital rules.
They made it clear that if a tokenized security gives the same legal rights as a regular security, it should be treated the same way for bank capital requirements. The use of blockchain doesn’t change the rules.
The guidance comes from the Federal Reserve, the FDIC, and the Office of the Comptroller of the Currency, who stressed that bank capital rules are “technology neutral.” This means whether an asset is digital or traditional doesn’t affect its regulatory classification.
The regulators also said it doesn’t matter if a tokenized security is on a permissioned or permissionless blockchain—it should still get the same treatment. Some tokenized securities that meet regulatory standards can even count as financial collateral, helping banks reduce credit risk under existing rules.
This clarification aims to help banks navigate the growing interest in blockchain and tokenization. While it doesn’t create new rules, it gives banks a clear understanding that existing standards still apply, even as financial markets explore faster settlements, 24/7 trading, and improved liquidity through digital assets.
