For years institutions involved in the digital assets space have said that legal issues take longer to resolve than implementing the technology. While some jurisdictions have made life easier for DLT securities and financial instruments, each country differs. Now the Hague Conference on Private International Law (HCCH) has created a project to explore digital tokens.
The intergovernmental body’s mission is to resolve uncertainty for cross border businesses regarding which laws are applicable and how legal decisions are recognized.
The initial digital token work is to collate the taxonomy of digital instruments across different jurisdictions and to report back next year. A paper on the topic specifically mentioned the tokenization of real world assets (RWA) and fund tokenization.
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