Regulation · Instrument · United States · Guidance · U.S. Securities and Exchange Commission

SEC staff Statement on Tokenized Securities (Divisions of Corporation Finance, Investment Management, and Trading and Markets)

A staff view, not a Commission rule, setting out a taxonomy of tokenised securities. Issuer-sponsored models either make the blockchain part of the official securityholder record or use tokens to trigger transfers in off-chain records. Third-party models are either custodial, where the token represents an entitlement to a security the third party holds, or synthetic, where the third party issues its own linked security or swap. In every case the securities laws apply as they would to the traditional form.

In force · effective 28 Jan 2026 · part of SEC framework for tokenised securities and crypto assets (federal securities laws, staff statements and exemptive relief)