证交会说,无论采用何种系统,象征性证券必须遵守联邦法律。 The SEC says tokenized securities must follow federal laws, no matter the system used.

证交会于2026年1月28日发布新的准则,指出象征性证券必须遵守联邦证券法,无论它们是否记录在块链或传统系统中。 The SEC issued new guidance on January 28, 2026, stating that tokenized securities must comply with federal securities laws regardless of whether they are recorded on a blockchain or traditional system. 该机构概述了两个代币化模式:一个是使用区块链作为官方记录,并进行链外身份检查,另一个是使用传统记录,使用代币作为转移通知. The agency outlined two models for tokenization: one using blockchain as the official record with off-chain identity checks, and another using traditional records with tokens serving as transfer notifications. 这些规则旨在确保对投资者的保护,促进创新,并为市场参与者提供明确性。 The rules aim to ensure investor protection, promote innovation, and provide clarity for market participants.