US Congress Reviews Tokenization and Real-World Asset Market
美國國會審查代幣化及現實世界資產市場
On March 25, 2026, the U.S.
2026年3月25日，美國眾議院金融服務委員會召開了一場題為「代幣化與證券的未來：現代化我們的資本市場」的聽證會。
House Financial Services Committee held a hearing titled "Tokenization and the Future of Securities: Modernizing Our Capital Markets."
這一活動標誌著一項重大轉變，將代幣化從一個利基概念轉變為首要的政策重點。
With the real-world asset (RWA) market now exceeding $26 billion in on-chain value, major firms like BlackRock and JPMorgan are leading the charge.
立法者目前正在探討如何為在公共區塊鏈上全天候（24/7）交易的資產升級法律基礎設施。
Lawmakers are currently exploring how to modernize legal infrastructure for assets that trade 24/7 on public blockchains.
會議討論的一個關鍵主題是，代幣化改變了資產結算的方式，但並未改變其基本屬性；代幣化股票仍然屬於受監管的證券。
A key theme discussed was that tokenization changes how assets are settled, but not their fundamental nature; a tokenized stock remains a regulated security.
雖然支持者認為這項技術減少了結算時間和成本，但批評者則呼籲對潛在的漏洞保持謹慎。
Furthermore, the hearing sparked debate over the witness panel's composition, as some argued it favored traditional financial giants over smaller, crypto-native innovators.
最終，核心挑戰依然是在資本市場現代化與維持強健的投資者保護之間取得平衡。
Ultimately, the central challenge remains balancing the modernization of capital markets with the maintenance of robust investor protections.
