# EP. 102 | Legal Clarity in a Tokenized Financial Future with Joshua Klayman

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Text version: https://stenobird.com/podcast/trm-talks-5694853/ep-102-legal-clarity-in-a-tokenized-financial-future-with-joshua-klayman.md
Podcast: [TRM Talks](https://stenobird.com/podcast/trm-talks-5694853)
Published: 2026-01-14T09:00:00+00:00
Episode link: https://podcasters.spotify.com/pod/show/trm-talks/episodes/EP--102--Legal-Clarity-in-a-Tokenized-Financial-Future-with-Joshua-Klayman-e3dk954
Audio file: https://anchor.fm/s/b8275d2c/podcast/play/113959524/https%3A%2F%2Fd3ctxlq1ktw2nl.cloudfront.net%2Fstaging%2F2026-0-14%2F50ea2d1c-c09d-73bd-1a53-048d80222a2c.mp3
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Duration seconds: 2256

## Resource

Crypto law has matured quickly — and few people have been closer to that evolution than OG crypto lawyer Joshua Klayman. In this episode of TRM Talks, Joshua Klayman, US Head of Fintech and Head of Blockchain and Digital Assets at Linklaters, joins Ari for a wide-ranging conversation on how legal frameworks around digital assets, tokenization, and blockchain-based finance are taking shape in real time. With nearly two decades of legal experience — and more than a decade working in crypto — Josh walks through how early blockchain work was shaped by skepticism around smart contracts, why the Uniform Commercial Code (UCC) has become foundational to tokenized finance, and how lawyers and regulators continue to wrestle with the question of when a token is, or is not, a security under US law. They also dig into how global banks and startups alike are navigating stablecoin regulation, including emerging frameworks like GENIUS, and what it means to advise clients in an environment where precedent is still being built. From regulatory risk to tokenized treasuries, this episode is a clear, grounded look at where crypto law stands today — and where it’s heading — from one of the lawyers helping define it.

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## Transcript

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