COINNEWSCardano launches standard for token freezing
At the TOKEN2049 conference in Singapore, representatives of the Cardano Foundation announced the launch of the CIP-0113 standard. This protocol is designed for regulated stablecoins, funds, bonds, and other tokenized assets.
Issuers will be able to implement KYC/AML mechanisms, sanctions restrictions, and bans on transfers to certain addresses within tokens. Depending on the rules of a specific asset, funds can be frozen, withdrawn, or transferred without the owner's consent.
- Rules are automatically applied during token issuance, transfer, and burning
- Issuers can update settings as legislation changes
The standard has already passed independent security audits and is now live. Its implementation did not require a blockchain hard fork.
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