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|

Tokenized Securities

DLT Act (Swiss Federal Act on the Adaptation of Federal Law to Developments in Distributed Ledger Technology)

Switzerland's 2021 DLT Act creating ledger-based securities as a new legal category, establishing DLT trading facility licences, providing insolvency segregation for crypto assets, and implemented by FINMA.

Donovan Vanderbilt · February 24, 2026

EU DLT Pilot Regime

The European Union's regulatory sandbox for tokenized securities market infrastructure, permitting DLT-based trading and settlement systems to operate under temporary exemptions from CSDR and MiFID II rules.

Donovan Vanderbilt · February 24, 2026

EU DLT Pilot Regime: The Experiment That Showed What Tokenized Securities Need

The EU's DLT Pilot Regime created a regulatory sandbox for tokenized securities trading and settlement. Three years in, the results are instructive — for what works, what doesn't, and what the EU should do next.

Donovan Vanderbilt · February 24, 2026 · 8 min read

MiFID II and Tokenized Securities: When Financial Instruments Move On-Chain

Tokenized securities that qualify as financial instruments under MiFID II face a second layer of regulation alongside MiCA. Understanding the boundary is essential for any European tokenization platform.

Donovan Vanderbilt · February 24, 2026 · 7 min read

Regulation A+ (US Mini-IPO Exemption)

The JOBS Act 2012 securities offering exemption permitting retail investor participation up to $75 million annually, with SEC review of the offering document — providing a pathway for tokenized securities to reach non-accredited investors.

Donovan Vanderbilt · February 24, 2026
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