Cardano Introduces CIP-0113 Standard for Enhanced Token Compliance
- The Cardano Foundation has launched the CIP-0113 programmable token standard on the Cardano mainnet.
- CIP-0113 allows issuers to embed compliance requirements, including KYC and anti-money laundering checks, directly into tokens.
- The standard is compatible with existing Cardano native assets and did not require a hard fork for implementation.
- CIP-0113 has been recognized by the Swiss Capital Markets and Technology Association as equivalent to its CMTAT smart contract for certification purposes.
- Launch partners include wallets and applications such as Eternl, GeroWallet, CardanoScan, and BloxBean.
CIP-0113 enhances token compliance by integrating mandatory functions that facilitate regulatory adherence in tokenized assets like stablecoins and funds. This capability supports asset freezing, transfer restrictions, and sanctions screening directly on the Cardano ledger.
With the launch of CIP-0113, the Cardano Foundation aims to foster collaboration with financial institutions while developing a securities module for regulated instruments.(Source)
