TOKENIZATION POLICY
The Vanderbilt Terminal for Digital Asset Policy & Regulation
INDEPENDENT INTELLIGENCE FOR TOKENIZATION POLICY, LEGISLATION & POLITICAL ECONOMY
GENIUS Act: Signed Law ▲ Jul 18 2025| MiCA Status: Live ▲ Dec 2024| CLARITY Act: Senate Pending ▲ Jul 2025| Crypto Lobbying 2024: $202M PAC ▲ Fairshake| OECD CARF Countries: 75+ ▲ +12| CBDC Projects: 130+ Active ▲ Atlantic Council| FATF Travel Rule: 73% Compliant ▲ Jun 2025| Pro-Crypto Congress: 300+ Members ▲ +91| GENIUS Act: Signed Law ▲ Jul 18 2025| MiCA Status: Live ▲ Dec 2024| CLARITY Act: Senate Pending ▲ Jul 2025| Crypto Lobbying 2024: $202M PAC ▲ Fairshake| OECD CARF Countries: 75+ ▲ +12| CBDC Projects: 130+ Active ▲ Atlantic Council| FATF Travel Rule: 73% Compliant ▲ Jun 2025| Pro-Crypto Congress: 300+ Members ▲ +91|

Token Classification

FINMA (Swiss Financial Market Supervisory Authority)

FINMA's principles-based approach to crypto regulation, including its 2018 ICO guidelines, three-category token classification, and DLT Act implementation.

Donovan Vanderbilt · February 24, 2026

FIT21 (Financial Innovation and Technology for the 21st Century Act)

The 2024 House-passed legislation that established the decentralization test for crypto classification, gave the CFTC jurisdiction over digital commodity spot markets, and became the legislative foundation for the CLARITY Act.

Donovan Vanderbilt · February 24, 2026

Howey Test

The four-part legal test derived from a 1946 US Supreme Court case that determines whether a transaction constitutes an 'investment contract' and therefore a security subject to SEC regulation.

Donovan Vanderbilt · February 24, 2026

Token Act (TVTG — Liechtenstein)

Liechtenstein's pioneering Blockchain Act, enacted January 2020, establishing the container model for token classification and 12 categories of TT Service Provider under FMA supervision with EEA passporting rights.

Donovan Vanderbilt · February 24, 2026

Token Classification Frameworks

Comparative analysis of how major jurisdictions classify crypto tokens into regulatory categories, determining which legal requirements apply to each token type.

Donovan Vanderbilt · February 24, 2026
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