Broker-Dealer Tokenization Act
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Summary
The Broker-Dealer Tokenization Act codifies a regulatory framework for broker-dealers to custody and transact in tokenized securities and stablecoins. It establishes registration requirements for 'approved brokers or dealers for qualified tokenized securities,' including custody safeguards, risk management policies, customer disclosures, and written agreements. The SEC is directed to issue rules within 12 months clarifying how existing custody and recordkeeping requirements apply to digital assets on distributed ledger technology.
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