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International Organization of Securities Commissions warns asset-tokenisation opens next frontier of risk for investors
IOSCO cautions that asset-tokenisation could bring new regulatory and operational risks, calling for preparatory reviews.
The global securities regulator IOSCO on 11 November 2025 issued a statement that the rapid tokenisation of real-world assets (RWAs) — from bonds to carbon credits — could introduce structural risks around ownership clarity, governance and inter-linkage with crypto ecosystems. The warning comes amid growing issuance of token-based products, particularly in Asia and Europe. IOSCO urged national regulators to assess whether existing frameworks are fit for purpose, as the technology layer may outpace oversight. Institutional investors were flagged for “second-order” exposures despite appearing regulated. The move may slow token-product launches but also pave way for a clearer regulatory regime.