Following today’s joint issuance by the federal bank regulatory agencies of answers to frequently asked questions to clarify the capital treatment of tokenized securities, the Bank Policy Institute, Futures Industry Association, Global Blockchain Business Council, Global Digital Finance, Global Financial Markets Association, Institute of International Finance, International Swaps and Derivatives Association, and Securities Industry and Financial Markets Association issued the following statement:
“Today’s interagency FAQs are a positive first step in providing much needed clarity for banks seeking to engage in tokenized securities activities. We look forward to further action in the near-term by the U.S. banking agencies to clarify the bank capital treatment of these and other digital asset-related activities. We would note that expedited revisions of the Basel cryptoasset framework that appropriately reflect recent developments in the digital assets market are needed at the global level.”
