The U.S. Securities and Exchange Commission has issued new guidelines on tokenised securities, Cointelegraph reported on Thursday.

The SEC categorised tokenised securities into an issuer model and a third-party model. It clarified how regulations apply under each model. The SEC warned that the third-party model could be exposed to risks such as bankruptcy.

In the issuer model, a company tokenises its own securities. It is split into a method that directly records ownership on a blockchain and a method that updates off-chain records. The SEC said, "Even if securities are tokenised, existing laws and registration requirements apply in the same way."

In the third-party model, a third party tokenises securities. It is divided into a custodial type, in which the token represents indirect ownership of the custodied security, and a synthetic type, in which a new security linked to an existing security is issued. The SEC stressed, "Blockchain is simply a record-keeping technology and is not a means to evade the application of securities laws."

Tokenisation platform Securitize welcomed the move, saying, "The SEC's announcement is a meaningful step that recognises on-chain records as an extension of the latest securities infrastructure."