US Regulators Include Tokenized Securities in Bank Capital Rules for the First Time

U.S. financial regulators have recently signaled formal approval for tokenized securities to be legally recognized in bank capital adequacy calculations. This move marks a significant breakthrough in the integration of traditional financial systems with blockchain technology. Regulators emphasized that for tokenized assets to be included in the capital framework, they must meet the non-negotiable prerequisite of legal equivalence—meaning their rights, obligations, and liquidation priorities must be completely consistent with traditional securities, ensuring that investor protection mechanisms are not weakened by changes in technological form.

To ensure system security and market stability, the regulatory details also impose strict requirements on the underlying technology of tokenized securities. Issuance platforms must deploy multi-layered encryption authentication, smart contract auditing mechanisms, and achieve full-process traceability and real-time risk control. In addition, custodial institutions must possess certified digital asset custody capabilities to ensure that tokens are not tampered with, lost, or reused during circulation.

This move is seen as a key step for traditional financial institutions to embrace blockchain technology, which will not only help improve capital liquidity but also provide a more efficient and transparent infrastructure for future asset securitization. The market generally believes that this policy will encourage more institutions to explore the tokenization of assets such as bonds and equities, accelerating the digital transformation of the financial system.