The U.S. Senate has proposed an amendment to its financial innovation bill regarding the classification of tokenized assets as securities.
Classification of Tokenized Assets
The amendment to the **Responsible Financial Innovation Act of 2025** explicitly classifies tokenized stocks, bonds, and other securities as securities. This is crucial for maintaining the **Securities and Exchange Commission (SEC)**'s oversight over digital assets and their trading. Lawmakers stated that the measure aims to eliminate ambiguity regarding the status of tokenized instruments.
Division of Oversight Between SEC and CFTC
The bill proposes to divide the oversight of digital assets between the **SEC** and the **Commodity Futures Trading Commission (CFTC)**. The Senate Banking Committee is expected to review the SEC-related provisions this month, while the Agriculture Committee will focus on the CFTC elements in October. A full Senate vote could take place in November.
Political Divide and Industry Pressure
Despite progress, the bill has not yet secured full Democratic support. Senator **Kirsten Gillibrand** has not confirmed her backing, while Majority Leader emphasizes the importance of consumer protection and anti-money laundering measures. Meanwhile, over **100 firms and advocacy groups**, including Coinbase and Kraken, continue to lobby for regulatory clarity.
If enacted, the legislation would provide the legal certainty needed for the large-scale adoption of tokenized financial instruments in the U.S. market.
