Tokenization of Real-World Assets: Signals from the U.S. House Committee on Financial Services

New York City Bar Association Podcast

The Presidential Task Force on AI and Digital Technologies’ Bob Schwinger hosts a discussion with fellow Task Force members Don Irwin and Tyler Yagman. They identify the key takeaways from the House Financial Services Committee’s June 5th congressional hearing about the tokenization of real-world assets, its relation to cryptocurrency, and its potential to improve market efficiency and transparency. Bob, Don, and Tyler also discuss the importance of regulatory compliance, the differences between permissioned and permissionless blockchains, and tokenization's implications for future financial inclusion. Access a transcript of this episode here: https://bit.ly/3ZxikWG Want to learn more about emerging digital technologies and their development? Join us at the City Bar’s upcoming program: Guidelines for Users and Developers of AI Powered Technologies on October 10 (https://bit.ly/GUDAI) and view our catalogue of similar on-demand CLEs (https://bit.ly/BarCTFDT). Visit nycbar.org/events to find all of the most up-to-date information about our upcoming programs and events. 00:00 Introduction to the Podcast and Today's Topic 01:21 Overview of Tokenization and Congressional Hearing 02:21 Detailed Explanation of Tokenization 05:09 Legislative Proposals and Industry Perspectives 07:33 Distinguishing Tokenization from Cryptocurrency 10:26 Goals and Benefits of Tokenization 16:41 Use Cases and Practical Applications 24:30 Fundamental Principles and Regulatory Concerns 33:38 Permissioned vs. Permissionless Blockchains 39:31 Tokenizing Securities and Technological Challenges 43:22 Stable Coins, CBDCs, and Financial Inclusion 48:02 Conclusion and Final Thoughts