IMF Warns Tokenized Assets Will Stay Peripheral Without Legal Clarity on Ownership

The International Monetary Fund (IMF) warned tokenized assets will remain peripheral unless markets resolve who legally owns them and where settlement is final. According to BeInCrypto, its “Real State of Tokenization in 2026” report mapped roughly $60 billion in tokenized real-world assets (RWAs) as of May 31, excluding stablecoins and repurchase agreements, and found the market fragmented across regulatory regimes and largely closed to US retail investors. IMF Monetary and Capital Markets Department Director Tobias Adrian said clear rules on ownership, settlement finality and jurisdiction will determine whether tokenization moves to the center of finance. BeInCrypto said about 97% of the market is inaccessible to US retail investors or lacks retail-grade regulation; only $1.7 billion is open to retail buyers, while accredited US investors can access roughly $8.3 billion. The report added that 39% of the market lacks an identifiable regulatory framework.