Regulation · Instrument · United States · Guidance · Board of Governors of the Federal Reserve System

FDIC, Federal Reserve and OCC FAQs on the capital treatment of tokenised securities

Joint answers from the three federal bank regulators stating that an eligible tokenised security, whose ownership is recorded on a distributed ledger, should generally receive the same regulatory capital treatment as its non-tokenised form, because the capital rule is technology neutral. Banks must still manage the risks and follow applicable law.

In force · effective 5 Mar 2026 · part of US federal banking agencies' framework for bank crypto-asset, stablecoin and tokenisation activities