On September 8, Nasdaq took a significant step towards revolutionizing the trading landscape by filing with the SEC to enable trading of tokenized securities listed on its exchange starting in 2026. This move, if approved,...more
As the digital transformation of finance accelerates, tokenized real-world assets (RWAs) are emerging as a bridge between traditional finance and decentralized markets. The innovation also raises critical legal and regulatory...more
The President’s Working Group on Digital Asset Markets Report (the Report) emphasizes that a clearly defined taxonomy is essential for establishing a regulated digital asset market and identifying the appropriate federal...more
In the expanding digital economy, tokenisation is set to transform how we interact with assets by creating digital representations of real-world assets on distributed ledgers. This promises to enhance efficiency, transparency...more
On Sept. 2, the Securities and Exchange Commission’s (SEC) Division of Trading Markets and the Commodity Futures Trading Commission’s (CFTC) Division of Market Oversight and Division of Clearing and Risk issued a joint...more
On August 5, 2025, the Securities and Exchange Commission Division of Corporation Finance released a statement on liquid staking as a follow-on to its May 29, 2025, protocol staking statement. The liquid staking statement...more
At the beginning of July, SEC Chair Paul Atkins painted a picture: tokenization was the “next step” in the evolution of securities. Generally, tokenization entails creating a digital representation of a real-world asset —...more
The “Strengthening American Leadership in Digital Financial Technology” Report, published in July 2025 by the President’s Working Group on Digital Asset Markets (the PWG), includes comprehensive recommendations for immediate...more
In July 2025, Robinhood launched a new product in the European Union designed to give investors exposure to privately-traded U.S. companies through tokenized financial synthetics. The offering is part of Robinhood’s effort to...more
The recently passed GENIUS Act might provide a major boost for the tokenisation of funds. A regulated, blockchain-based payment mechanism brings the automation of payments by tokenised funds a step closer. Drawdowns and...more
A coalition of 115 digital asset builders, investors, and advocates submitted a letter to the Senate Committee on Banking and the Committee on Agriculture on August 27, advocating for the protections afforded to open-source...more
There were significant crypto developments at both the state and federal levels. In Wyoming, the Frontier Stable Token (FRNT) officially launched on mainnet, making the state the first public entity in the United States to...more
On August 19, Fed Governor Christopher Waller delivered remarks at a blockchain symposium, emphasizing the ongoing evolution of payment systems driven by advances in computing, data processing, and distributed networks....more
The U.S. regulatory environment for digital assets has never been more promising for the industry. Since the change in administration, the Securities and Exchange Commission (SEC) has committed to stemming what it has...more
US Stablecoin Issuers Announce Bank Charter Application, New L1 Network - Paxos, a blockchain infrastructure and tokenization platform and issuer of the USDP stablecoin, recently announced that it “has filed an application...more
On July 30, the president’s Working Group on Digital Asset Markets released a report setting out a coordinated federal approach to digital asset regulation. The report called for agencies to provide clearer guidance and...more
With the GENIUS Act (stablecoins) now signed into law, and the CLARITY Act (market structure) having passed the House and entering active discussion in the Senate, the U.S. federal government’s embrace of digital asset policy...more
Although digitized initial offerings of securities may not be novel, blockchain tokenization of existing securities is still evolving. In SEC Commissioner Hester Peirce’s July 9 statement, she emphasized that while...more
According to a recent press release, a major stablecoin consortium announced a new partnership with a leading international crypto exchange. The exchange has now integrated USDG and seeks to offer the stablecoin to its 60...more
Tokenizing real estate involves converting ownership or economic rights in property into digital tokens on a blockchain platform. Blockchains can replace outdated land records, and smart contracts can automate real property...more
On July 9, 2025, Commissioner Hester Peirce, head of the SEC’s Crypto Task Force, in a published statement said, “Tokenized securities are still securities.” And, as such, the federal securities laws apply to transactions...more
Congress continues to prioritize digital asset legislation, with the House leadership designating the week of July 14 as “Crypto Week,” when the House plans to vote on three significant pieces of digital asset legislation:...more
Albert: So, to set the stage here, my name is Albert Vanderlaan. I am the head of the capital markets group here at Orrick. I'm really pleased to be joined today by Robert Leshner, the CEO and co-founder of Superstate. I...more
Government plans to supercharge the digital assets industry, with crypto dealing and custody regimes the icing on the cake for a holistic regulatory framework....more