Broker-Dealer Tokenization Act

This bill creates a new regulatory framework for brokers and dealers handling digital assets. It allows registered brokers/dealers to register as "approved" for "qualified tokenized securities" (securities issued via blockchain) and "permitted payment stablecoins" (digital assets designed to maintain stable value), subject to specific custody and risk management requirements. Key provisions include new rules for secure custody of digital assets, mandatory customer disclosures about digital asset risks, and modifications to existing securities custody rules (Rule 15c3-3) to address blockchain technology. The bill also directs the SEC to study further infrastructure needs and includes a sunset clause tying its expiration to the SEC's final rulemaking.