Regulatory colonisation in the era of tokenisation
By Antonio Tejeda Encinas | CEO of META Channel Corporation
Technological revolutions do not wait for the legislator. The history of economic law shows that regulations almost never precede innovation: they follow it, consolidate it and, in many cases, legitimise it a posteriori.
Asset tokenisation, the process by which any asset capable of generating value can be represented digitally on a DLT network, is the best contemporary example of this dynamic.
On 14 October 2025, BlackRock CEO @Larry Fink put it unequivocally on CNBC: “We are only at the beginning of the tokenisation of all the world’s assets, from real estate to stocks and bonds.” He added that more than $4 trillion sits in digital wallets worldwide “ready to be channelled into tokenised products”, and that “tokenising ETFs will bring the crypto world closer to traditional markets”.
Fink’s message is not technical, but structural. BlackRock no longer talks about blockchain as a trend, but as the inevitable infrastructure of financial capitalism.
But this transition reveals a deeper strategy. BlackRock does not wait for regulation. It triggers it.
Its tokenised fund (BUIDL), launched in March 2024 and already worth more than $2.8 billion, is the clearest example of how a private entity uses innovation as a tool for legislation by precedent. The mechanism is devastatingly effective: a product is launched within the margins of existing law, given institutional scale and turned into the de facto regulatory benchmark. When legislators come to define what “secure tokenisation” is, the model will already exist and will bear BlackRock’s signature.
In compliance labs this is known as inevitability engineering: creating the perception that a model is not only viable but inevitable. The sequence is flawless: first, the doctrinal statement (“The future is tokenisation”); second, the functional demonstration (“We already do it safely”); and third, regulatory colonisation (“It would be a mistake to hold back what already works”).
In comparative law, this is known as path dependency: once a private model reaches critical mass, the legal system tends to preserve it. BlackRock and its peers play on that time variable. They do not need to be the first to launch, but the first to survive the regulatory vacuum.
The result is a “soft capture” of the regulatory framework. The rules are written from practice; the State no longer imposes the law, it simply ratifies it a posteriori.
J.P. Morgan, Goldman Sachs, State Street, BNY Mellon, Circle and Securitize act as the intermediate layers between capital and regulation. Whoever controls the issuance and custody infrastructure of these new assets will control the backbone of digital capitalism.
In Europe, this transition is not watched from a distance; it is articulated through law. MiCA does not compete with what BlackRock or the large funds are doing; it translates their momentum into a common legal language capable of giving stability to global tokenisation.
That is where META Channel Corporation operates: as an interpreter between market innovation and the legal structure that makes it viable.
We operate within the MiCA perimeter, handling the tokenisation of real-world assets as regulated, audited value—not as crypto speculation—with a focus on institutional tokenisation that is environmentally and socially useful: green certificates, intellectual property and the traceability of non-financial assets.
Through our TokenLab division, we develop projects on authorised European infrastructure that is fully MiCA-compliant, ensuring legal certainty, transparency and social value in every case.
Larry Fink’s new narrative merely confirms the obvious: tokenisation is not a futuristic idea, but an inevitable historical phase. While the large global funds are testing their MiFID-DLT model, Europe has built a space of balance with MiCA.
In that space, META Channel acts not as a financial intermediary, but as an architect of digital governance and legal trust. Regulatory colonisation is no longer a theory: it is the modern form of power. And tokenisation, its battlefield.
Disclaimer: This article reflects the opinion of its author and the institutional vision of META Channel Corporation on digital regulation. It does not constitute financial or legal advice, but rather doctrinal analysis of the evolution of the MiCA-DORA-DLT Pilot framework in Europe. References to BlackRock are based exclusively on public information and official statements by its CEO, Larry Fink, on CNBC, October 2025.
