The acceleration of real-world asset (RWA) tokenization is reshaping the foundations of capital markets. While converting the real-world assets into tokens, firms need to decide how assets are issued, traded, and owned across jurisdictions. While the forecast suggests tokenized markets could exceed $16 trillion by 2030, with real estate and fixed income leading adoption. The trajectory of this growth is determined by jurisdictional policy. Legal frameworks dictate which assets qualify for tokenization, define the scope of eligible investors, and establish the conditions for secondary market activity.