Citi and the Depository Trust & Clearing Corporation (DTCC) have highlighted that regulatory compliance, rather than technological limitations, is the primary obstacle to widespread adoption of tokenized collateral. Regulatory Approval Slows Tokenized Asset Transfer Ryan Rugg, Head of Digital Assets at Citi, revealed at the SmartCon conference that Citi Token Services is actively processing transactions across multiple countries. However, she emphasized that "regulatory approval processes in each country are restricting service expansion." Interoperability and Legal Validity are Key Nadine Chakar, Head of Division at DTCC, echoed this sentiment, stating that while the technology is adequate, "ensuring interoperability and legal validity is key." The focus needs to shift towards establishing a clear legal framework for digital assets to facilitate seamless and compliant transfer of tokenized collateral. This will unlock the full potential of this innovative technology. ```