The DTCC, Clearstream, and Euroclear white paper, with BCG, introduces the Digital Asset Securities Control Principles (DASCP) to guide adoption of tokenized securities. It proposes a risk-and-control framework that is asset-class agnostic and technology neutral, ensuring legal certainty, regulatory compliance, resilience, and interoperability. The framework identifies risks—such as smart contract defects, market abuse, and interoperability gaps—and maps them to flexible controls covering legal, governance, resilience, and settlement. A case study on tokenized lending shows DASCP in practice, emphasizing automation, compliance, and investor protection. The paper calls for industry-wide collaboration to establish standards and future-proof capital markets.

Join for free to read