Cardano Foundation launches CIP-0113 standard, allowing token freezing and seizure

Cardano Foundation launches CIP-0113 token standard, allowing regulated asset issuers to restrict recipients and freeze, seize, or transfer token holdings. This standard supports publishers to implement control without the need for a hard fork of the Cardano network. CIP-0113 requires compliance checks such as identity verification and sanction list screening for each transfer. The issuer may customize rules and update them according to regulatory requirements, and relevant parties may transfer tokens without the consent of the holders under the authorization mechanism. (Source: CoinDesk)