CFTC updates guidance on tokenized assets and blockchain recordkeeping

The U.S. Commodity Futures Trading Commission (CFTC) has revised its guidance on tokenized assets and the use of blockchain for recordkeeping. The update, issued in a Thursday notice, amends the agency’s frequently asked questions for registered crypto‑related entities.

Key changes to tokenized asset rules

The revised guidance clarifies that authorized firms may invest customer funds in tokenized forms of assets, provided the token grants legal and economic rights that are the same or functionally equivalent to those of the underlying traditional asset.

Blockchain‑based recordkeeping

The CFTC indicated it would not object to companies employing blockchain technology for recordkeeping under the new guidance.

Regulatory context

CFTC Chair Michael Selig said the changes aim to “provide regulatory clarity for the crypto industry.” The announcement follows the U.S. Senate’s failure to advance the Digital Asset Market Clarity (CLARITY) Act, a bill that sought to delineate CFTC and SEC oversight of digital assets. With the cloture vote failing, many anticipate that congressional action on crypto market structure may be delayed until after 2027, prompting regulators to move forward with rulemaking.

The CFTC has already submitted a crypto market regulation plan to the White House, and the SEC has expressed readiness to propose its own rules on crypto assets.