Oct 1, 2026 · 18 min · 10 segments
Chronicle Founder Nik Kunkel joins CoinDesk's Kate Irwin on Markets Outlook to unpack their new report that found over $12 billion in tokenized assets falling short on transparency. Kunkel breaks down…
Kate IrwinHost
On the US, the regulatory situation, I think a lot of folks in crypto might say that it's certainly gotten better in the past few years.
And we're also seeing the SEC issuing various guidelines, a few different ones this year coming out around tokenization.
What do you make of some of that guidance that the SEC has put out? Some of it's saying, let's treat tokenized assets the same as the underlying asset.
I think the view that the SEC and CFTC are taking that assets are just assets, right? And just because you change the form factor of them into crypto doesn't mean you need to treat them any differently is the correct way to view these things and certainly What we've seen on the institutional landscape is an acceptance that there is now a policy in place from this administration that they can build their products on top of and that they can plan around.
With respect to transparency and verification, this again has a direct correlation or corollary in traditional markets.
If you are running a fund, you need to get audits and report those audits to the SEC and make them public.
And this is no different in the crypto sense that if you are releasing a tokenized fund, you need some degree of transparency.
This cadence that we have in TradFi of like a monthly audit, a quarterly audit, an annual audit.
you know we have the technology with tokenization to do this in real time uh you should be able on a second by second basis to you know be able to see like does a fund uh you know is it fully backed and what is the latest information you're related to a fund there's no reason why we can't do this and from a regulator point of view um this is uh the best thing that they could have asked for right what's better than a monthly audit is being able to to track the the market in real time
On the US, the regulatory situation, I think a lot of folks in crypto might say that it's certainly gotten better in the past few years.
And we're also seeing the SEC issuing various guidelines, a few different ones this year coming out around tokenization.
What do you make of some of that guidance that the SEC has put out? Some of it's saying, let's treat tokenized assets the same as the underlying asset.
I think the view that the SEC and CFTC are taking that assets are just assets, right? And just because you change the form factor of them into crypto doesn't mean you need to treat them any differently is the correct way to view these things and certainly What we've seen on the institutional landscape is an acceptance that there is now a policy in place from this administration that they can build their products on top of and that they can plan around.
With respect to transparency and verification, this again has a direct correlation or corollary in traditional markets.
If you are running a fund, you need to get audits and report those audits to the SEC and make them public.
And this is no different in the crypto sense that if you are releasing a tokenized fund, you need some degree of transparency.
This cadence that we have in TradFi of like a monthly audit, a quarterly audit, an annual audit.
you know we have the technology with tokenization to do this in real time uh you should be able on a second by second basis to you know be able to see like does a fund uh you know is it fully backed and what is the latest information you're related to a fund there's no reason why we can't do this and from a regulator point of view um this is uh the best thing that they could have asked for right what's better than a monthly audit is being able to to track the the market in real time
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