South Korea has passed mid-January amendments legalizing tokenized securities under the Electronic Securities Act and the Capital Markets Act, prompting banks, exchanges and asset managers to adapt. The new framework replaces lingering uncertainty after a failed 2023 tokenization bill and opens regulated on‑chain issuance.
The SEC has confirmed that tokenized securities are fully subject to U.S. federal securities laws while signaling openness to compliant on‑chain issuance and trading models. The clarification narrows legal uncertainty for issuers and trading platforms.

Ondo Finance has requested the SEC to pause Nasdaq's proposed rule change on trading tokenized securities due to concerns over transparency and unclear settlement processes by the Depository Trust Company. They emphasize the need for public disclosure to protect smaller businesses and ensure regulatory compliance.

Ondo Finance urges the SEC to delay Nasdaq's plan to trade tokenized securities, citing lack of transparency and potential fairness concerns. While supporting tokenization, Ondo calls for clearer details on blockchain settlement processes before approval.