The regulatory changelog
Tokenization rules moved faster in the last twelve months than in the previous five years. This is the dated log – updated quarterly, newest first, each entry unpacked in its jurisdiction guide .
Last updated July 10, 2026
2026-07-01
EU
MiCA transitional period ends
Grandfathered CASPs without authorization lose operating rights across the EU. Security tokens remain outside MiCA (MiFID instruments) – see the EU guide.
2026-07-01
US
Securitize lists on NYSE; Robinhood launches tokenized-stock L2
First pure-play tokenization IPO (SECZ, ~$1.25B valuation); Robinhood Chain goes live for tokenized equities. Retail rails accelerating.
2026-06-08
Luxembourg
Securitisation Act modernization bill submitted
Would permit equity in actively managed portfolios and cross-compartment investments. In parliament – not yet law.
2026-06
EU
Commission proposes making the DLT Pilot Regime permanent
Would lift time limits and raise caps; trialogues run into 2027.
2026-05-27
Standards
ERC-7943 (uRWA) reaches Final status
The neutral permissioned-RWA token standard, backed by a coalition incl. Stobox; CMTA's CMTAT adds support.
2026-05-19
US
SEC proposes preempting state blue-sky registration for registered offerings
Proposal only – state notice filings still apply meanwhile.
2026-05-04
US
FINRA approves first broker-dealer custody of tokenized securities
Custody + atomic settlement inside a regulated broker-dealer for the first time.
2026-05
Cayman
CIMA opens tokenized-fund registration (interim questionnaire)
Four interim conditions; nine funds registered conditionally in the first weeks. Final rules pending – see the Cayman guide.
2026-04-16
EU
AIFMD 2.0 applies
Restricts private-placement marketing of funds from EU AML-listed jurisdictions (currently incl. the BVI) into the EU.
2026-04-09
UAE
VARA publishes issuance guidance + whitepaper templates
Clarifies the May-2025 ARVA rulebook for RWA token issuers.
2026-03-25
US
SEC approves Nasdaq tokenized-securities trading
Tokenized forms of listed equities on the main order book; first trades expected Q3 2026.
2026-03-24
Cayman
Tokenized-funds statute takes effect
Digital equity/investment tokens in law; registered tokenized funds exempt from VASP dual-licensing. First mover among fund domiciles.
2026-02-20
UAE
Dubai DLD opens tokenized-title secondary market
7.8M property tokens tradeable via licensed platforms, tied to the land registry.
2026-01-28
US
SEC staff statement on tokenized securities
Format doesn't change the law: tokenized securities are securities. The clarity everything else builds on.
2026-01-19
UK
New public-offers regime (POATRs) + Public Offer Platforms live
The rebuilt prospectus regime and the retail-offer platform gateway – see the UK guide.
2026-01-12
UAE
DFSA updates DIFC crypto-token rules
Firm-led token suitability replaces the prescribed list.
2026-01-01
UAE
Federal CMA replaces the SCA
New federal capital-markets regulator; security tokens onshore under its rulebook (publishing in stages).
2025-12
Global
BVI added to the EU AML high-risk list; DTCC gets SEC relief for DTC tokenization pilot
The BVI caveat (see guide) and the US settlement-layer pilot in the same month.
Questions this raises
The changelog, answered briefly.
How often is the regulatory changelog updated?
Quarterly, dated, newest first, with each entry unpacked in its jurisdiction guide.
What was the biggest regulatory change of 2026?
The SEC’s 28 January staff statement that a security’s format does not change the law – tokenized securities are securities. The Nasdaq trading approval, FINRA custody approval and DTCC’s pilot all built on that clarity.
Do these changes apply to my offering?
Only jurisdiction by jurisdiction – check the linked guide for each market you sell into and confirm with securities counsel; the log is general information, not legal advice.
Sources for every entry are in the corresponding jurisdiction guideand the State of RWA 2026 report. General information, not legal advice – see Legal & disclosures.
