Tokenized securities are still securities under U.S. law.  
Companies or custodians can tokenize assets, but buyers face risks.  
Issuers must follow disclosure rules under federal securities laws.  
Market players should carefully assess legal and regulatory risks.  
Engage with the SEC early when designing tokenized products.  
The SEC is open to updating rules or granting exemptions if needed.

Tokenized securities sound exciting but companies gotta play by the rules and buyers should stay sharp about the risks involved