The U.S. Securities and Exchange Commission has released updated guidance on tokenized securities, providing clearer pathways for RWA token issuers to achieve regulatory compliance.

Key points from the guidance include: - Clarification that tokenized fund shares can qualify under existing 40 Act frameworks - New safe harbor provisions for certain types of tokenized debt instruments - Enhanced disclosure requirements for on-chain proof of reserves

Industry participants have broadly welcomed the guidance as providing needed clarity, though some note it may increase compliance costs for smaller issuers.