The U.S. Senate has introduced an amendment to its Responsible Financial Innovation Act of 2025, explicitly classifying tokenized stocks, bonds, and other securities as securities under the jurisdiction of the Securities and Exchange Commission (SEC). This move aims to clarify legal standing for these assets, aligning their treatment with existing broker-dealer frameworks. The amendment, driven by concerns over ambiguity regarding commodity classification, will influence the direction of pilot programs in tokenized markets, which have seen institutions like JPMorgan, Franklin Templeton, and Société Générale experiment with digital versions of equities and bonds.