The International Monetary Fund pointed out that as of July, the size of tokenized real-world assets reached $65 billion, far less than the global capital market assets of $30 trillion. Among them, tokenized credit products account for about 30.4 billion US dollars, money market funds account for about 17.5 billion US dollars, and tokenized stocks account for about 2.3 billion US dollars. The liquidity of tokenized stocks is lower than that of traditional markets, with an actual volatility of about 1.5 times that of traditional stocks. Legal uncertainty, insufficient interoperability, and lack of settlement assets limit the development of tokenization, and market interdependence and increased leverage may amplify liquidity risks. At present, the systemic risks brought by tokenized assets are limited. (Source: International Monetary Fund)

[IMF Points Out Legal Uncertainty and Liquidity Risks in the Tokenized Market] The IMF analysis highlights that while the tokenized financial market is rapidly expanding, legal uncertainty and a lack of interoperability remain major obstacles. As of July, the outstanding value of tokenized RWAs was approximately $65 billion, significantly smaller than the $30 trillion global capital market. The daily trading volume of related repo agreements reached $300 billion to $350 billion, only a fraction of the U.S. traditional repo market. Tokenized equity liquidity is relatively poor, with volatility about 1.5 times that of traditional assets. As connectivity increases, potential sell-offs, liquidity squeezes, and contagion risks could be amplified. The IMF calls for the improvement of legal and regulatory frameworks. (Source: International Monetary Fund)

Mike Selig, Chairman of the US Commodity Futures Trading Commission, announced the establishment of a framework for the cryptocurrency market structure, allowing developers to create passive derivative software, and initiating the development of regulatory rules for cryptocurrency trading. At the same time, regulatory guidelines for cryptocurrencies and tokenized assets will be released to promote investor protection measures to prevent market fraud. （Watcher.Guru）

[Federal Reserve Chairman Kevin Warsh to Speak at IMF Bangkok Annual Meeting on October 16] Federal Reserve Chairman Kevin Warsh has confirmed that he will deliver a public speech at the IMF Bangkok Annual Meeting on October 16. (Source: Jin10)

Standard Chartered announced that it will launch Bitcoin custody services in Singapore this year. （The Bitcoin Historian）