US House Scrutinizes Tokenized-Securities Regulation

Securities tokenization records rights to assets such as stocks and bonds on a blockchain, potentially accelerating settlement and reducing intermediary costs. The US House Financial Services Committee and the Securities and Exchange Commission are working to clarify regulatory boundaries. A central point of agreement is that although the technology changes how securities are traded, it should not weaken investor protections or traditional securities rules.

The committee held a hearing on March 25, 2026, to discuss the Capital Markets Technology Modernization Act and the CLARITY Act, while industry representatives argued that responsibility should be allocated according to custody, control and discretion. On June 30, former committee chairman Patrick McHenry again warned that regulation should not designate a small number of gatekeepers. In the market, Invesco, which manages $2.2 trillion in assets, has taken over a $900 million tokenized US Treasury fund.