Edwin Mata, CEO and cofounder of Brickken, suggests that regulatory uncertainty in the US may lead tokenization firms to prioritize expansion into Europe, the UAE, and Asia. The lack of clear legislation, particularly regarding the CLARITY Act, complicates long-term investment planning for businesses that require predictable compliance frameworks.
The UAE is noted for its direct engagement between regulators and digital asset companies, while Europe offers an established framework through the Markets in Crypto Assets regulation, known as MiCA. Additionally, Singapore and Hong Kong are identified as regions that could see increased institutional activity due to these shifts in corporate strategy.
Brickken, a platform that has supported over $660 million in tokenized assets across more than 40 countries, continues to view the US as a critical market. However, the company emphasizes that comprehensive legislation is necessary to justify the significant costs associated with legal structuring and compliance for long-term operations.
While the SEC introduced an Innovation Exemption in September to allow eligible tokenized stocks to trade on specific venues, industry leaders argue this does not replace the need for comprehensive law. Mata expects meaningful regulatory progress in the US over the next two years, though the timeline for formal legislation remains uncertain.
