🎙️ Webinar Recap: “Tokenization in the U.S.: Legal Clarity & Practical Pathways” with Bull Blockchain Law

Last week, Brickken hosted a powerful deep-dive into U.S. tokenization with Tyler Harttraft, partner at Bull Blockchain Law, alongside Elisenda, Brickken’s General Counsel. The session focused on the current legal landscape, regulatory momentum, and practical steps for tokenizing assets in the U.S. with expert guidance every step of the way.

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Watch the full webinar here: https://www.youtube.com/watch?v=6sLxSO4Ec5g

‍Foundational Insights on Tokenization

Tyler opened with a sharp definition of tokenization:

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“It’s the process of representing rights digitally on a programmable platform.”

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He emphasized that while concepts like fractionalization and digitization already exist, tokenization’s edge lies in shared ledgers, programmability, and composability, what he called the “Lego blocks of financial innovation.”

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Tyler also cautioned against overusing the term democratization: “Just because something is tokenized doesn’t mean it’s open to everyone, U.S. securities laws still apply.”

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🏛️ Real-World Use Cases

The session featured real examples of tokenization already happening in the U.S.:

‍Custodia Bank and JPMorgan have launched tokenized deposit systems, enabling faster settlements with institutional control.

• BlackRock’s BUIDL Fund has over $2.8B tokenized in U.S. Treasuries across multiple blockchains.
  
• Franklin Templeton paved the way by being the first major asset manager to tokenize Treasuries.

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“BlackRock may lead in AUM now, but Franklin Templeton really pioneered this space,” Tyler noted.

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On tokenized stocks, he discussed the surge in synthetic instruments and potential for real equity tokens pending further SEC action, hinting that platforms like Coinbase are paying close attention.

⚖️ Navigating U.S. Regulations

Tyler broke down how tokenized offerings can fit into U.S. regulatory frameworks:

• Reg D: For accredited investors.
• Reg S: For offshore sales with no U.S. flowback.
• Reg A and Reg CF: For public and retail-friendly access—with varying regulatory burdens.
  

He also explained the growing clarity from the SEC:

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“We’re finally seeing the SEC engage constructively, with roundtables on DeFi, tokenization, and more.”

🌍 Structuring for U.S. & Global Success

For international projects:

• Delaware SPVs remain the gold standard for entering the U.S. market.
• Master-feeder structures (Delaware + Cayman) are common when combining U.S. and non-U.S. investor bases.

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Tyler emphasized that working with local counsel is essential when combining Reg D and Reg S with EU compliance (MiFID II / MiCA).

Where Tokenization Is Heading

“We’re finally at the moment where infrastructure meets regulation,” Tyler shared.

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He sees real estate, private credit, and structured products as key sectors where tokenization is gaining momentum and predicts that compliant secondary trading will be the next big leap for the industry.

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Missed it live? Catch the full webinar on YouTube: Tokenization in the U.S: Legal Clarity & Practical Pathways

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💬 Want to explore tokenization in the U.S. with Brickken? Reach out to us anytime, we’re here to guide you every step of the way.

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Let’s keep building the future of compliant, scalable finance. 

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