Cardano CIP-0113 officially launched: issuers can freeze and confiscate regulated tokens, ADA plumme

The Cardano Foundation activated the CIP-0113 token standard on the main network on October 7, 2026

On October 7, 2026, the Cardano Foundation officially activated the CIP-0113 token standard on the main network. The standard allows issuers to write rules directly into the token, including stipulating who can hold the token, the maximum amount for each transfer, and whether third parties are authorized to freeze or seize the token. The network will automatically enforce these rules during every transfer, casting and destruction process.

Meanwhile, the ADA price was US$0.2294, down 10.32% from 24 hours ago. The connection between the two is not as strong as the coincidence of time suggests. The ADA itself is not bound by the new standards, and its one-day decline is in line with the overall market downturn that Bitcoin and Ether have recently experienced.

Activation of CIP-0113 on the main network: What was launched by the Cardano Foundation on October 7?

What is launched this time is a so-called "programmable token" platform and the supporting open standard CIP-0113. The specification defines programmable tokens as assets that "require successful execution of a script to change the owner." Behind this concise statement reflects a fundamental shift: In the past, enforcing rules was the responsibility of the token issuer or the trading platform it operated on; in the future, this responsibility will be borne by the blockchain itself.

This upgrade does not require a hard fork. The specification clearly states that the goal is to leverage the existing building blocks of the protocol to model the transport logic, rather than changing the protocol rules. Programmable tokens remain Cardano's native assets and continue to run in the extended UTXO model. As a result, wallets, blockchain browsers, and apps still technically treat them as existing tokens.

This project is not new. The Cardano Foundation demonstrated the platform and standards on March 9, 2026. At that time, it was connected to the preview testnet environment and did not involve real funds. From the March display to the October activation, it went through multiple independent security audits; the foundation did not announce the specific institutions participating in the audit. The Swiss Capital Markets and Technology Association has endorsed this standard. In terms of tools, the Eternl and GeroWallet wallets, the block browser CardanoScan, and the developer library BloxBean are ready for release.

Frederik Gregaard, CEO of the Cardano Foundation, summed up its vision with a quote from CoinCodex: "Rules must move with assets and be enforced every time they move."

Programmable Tokens: How the network liquidates owner changes

The mechanism is detailed in the specification. The programmable tokens are located on the shared script address programmableLogicBase. Any move from that address requires a call to global logic, which passes the action to the responsible sub-function: one for ordinary transfers, one for third-party intervention, and one for reorganizing one's own positions.

Whether transfers are allowed is determined by the token's own script, transferLogicScript. The specification lists white lists, single transfer caps and compliance requirements as examples. Who can issue or destroy tokens is determined by the second script issuanceLogicScript governments.

Proof of registration: Unregistered tokens still function like ordinary native assets

One point in the specification is more important to the holder than any script name: Proof of registration shows whether the token policy has been registered. Only registered tokens must implement the logic of their subcriteria. Unregistered tokens behave like ordinary native assets on Cardano, exactly the same as before. New permissions are generated per token and only take effect when the issuer builds them in. They are not universally applicable and are not retroactive.

Now, every transfer of registered tokens will go through a checkpoint in the agreement before ownership changes occur.

Freezing and confiscation: Sub-standards allowing freezing, unfreezing and seizure

The core standard itself does not define the freezing function. These functions are located in a substandard called "Freeze and Seize", which provides three operations: freeze, unfreeze, and confiscate. The specification describes it as a simplified stablecoin contract with compliance features. Such sub-standards require signatures from defining keyrings and are called "sub-standard administrators" in the specification. Who is in this circle is determined by the issuer, not by standards.

For stablecoins and tokenized securities, this is the real purpose of this work. The rationality section of the specification explicitly mentions these two groups and states that issuers using simple native tokens cannot enforce compliance requirements or block balances.

thirdPartyLogicScript: When a third party moves a token without the holder's consent

The most far-reaching power is called thirdPartyLogicScript in the specification. This feature is optional and allows action to be taken without the consent of the holder. The specification clearly lists confiscation operations and forced transfers under this category.

Partial confiscation and removal: Partial confiscation, and destruction after confiscation

specifications describe various levels. Partial forfeiture applies only to a portion of the position held. The operation called "wipe" will be confiscated and then destroyed. "top-up", on the other hand, is used for credit. There is a striking pragmatic condition in the specification: third-party intervention must actually change the relevant balance, so it cannot be passed in the form of a null transaction.

If you see similarities here with familiar mechanisms on other chains, that's correct. We described the recovery and freezing features of tokenized assets on Solana on September 13, 2026. The difference is construction rather than the result: Cardano anchors these powers in an open standard with sub-standards, rather than in an extension of the token program.

BaFin standard in specification: compliance building blocks from FluidTokens

For German readers, there is one noteworthy entry in the list of substandards. The specification lists a "BaFin standard" and describes it as a compliant token standard developed by FluidTokens. The name refers to the Federal Financial Supervisory Authority (BaFin) as a benchmark rather than the agency's participation: the specification specifies FluidTokens as a developer, not BaFin.

In practice, this means that issuers wanting to meet German requirements can adopt ready-made rule sets rather than writing their own logic. For holders, this means that tokens on Cardano could in the future be based on a set of rules that mimic German regulatory law, including the ensuing power of blockade.

MiCA and Anti-Money Laundering Rules: Blocking function for EU issuers is mandatory

Technological developments are moving towards a legal stance here. People issuing asset reference tokens or e-currency tokens in the EU need to be authorized by the Cryptographic Asset Markets Regulation (MiCA) and must maintain procedures for implementing regulatory directives. European anti-money laundering law also requires obligated entities to freeze funds related to sanctions. A chain that simply cannot represent blocking power makes both matters dependent on the good faith of the issuer.

A more interesting corollary for holders is that tokens deemed robust under regulatory law can often be blocked. Blocking is not a design flaw, but a prerequisite for legitimacy. See our stablecoins overview for which stablecoins are subject to what regulation in Europe.

German Portfolio Status: Which tokens on Cardano are actually subject to CIP-0113

截至本文撰写之时，答案是可控的：几乎没有任何代币。该标准在主网上线仅一天，可用性不等于采用率。Eternl、GeroWallet、CardanoScan和BloxBean支持它，但这并不能说明有多少发行方会真正使用它。

你的持仓面临三个具体问题。首先：如果你持有ADA，无需做任何事，因为ADA不是可编程代币，仍可自由转让。其次：如果你在Cardano上持有稳定币或代币化资产，最好查看发行方的条款，了解其是否切换到新标准以及选择了哪个子标准。第三：如果新的代币化基金或债券登陆Cardano，在买入之前，关于冻结和没收权力的问题应纳入你的审查范围。

令人不安的部分在于：你自己的私钥只能起到有限的作用。自我托管保护你免受交易平台处置你持仓的风险，但它不能保护你免受代币内部规则的侵害，因为检查发生在协议层面，而不是钱包层面。这种保护的局限性是理解该标准的一部分。

贷款抵押品和借贷：实施文档对平台的建议

基金会文件中的一个提示应该被任何质押代币作为贷款抵押品或接受抵押品的人阅读。建议借贷平台在接受代币作为抵押品之前检查代币的规则集，因为某些配置允许授权的第三方在未经持有者同意的情况下移动代币。

For lending, the consequences are obvious: collateral that can be confiscated by a third party is unreliable collateral. The specification itself writes the appropriate sentence: Integrators must check third-party rights against sub-standards, because mere compliance with CIP-0113 does not answer this question. At present, no provider has raised the issue of whether pledged tokens will be confiscated.

Your own private key determines who can access the account, not what rules are inside the token.

Status "under proposal": The standard has not yet been formally finalized

One detail moderates the evaluation results, which comes from the specification itself. CIP-0113 has the status of "Proposed" therein, is classified in the Tokens category, was submitted on January 14, 2023, and is a response to question statement CPS-0003. In March this year, the foundation said it was continuing to improve CIP-0113 to make it a production-ready standard.

Therefore, there is a gap between the standard with a status of "proposed" and the platform running on the main network. This is not contradictory, as CIP changes its status until later in the Cardano process, but there is one reason: waiting for the issuer's announcement rather than extrapolating a wave of regulated tokens from activations. In addition, it remains unclear who has the right to change protocol parameters: the specification has no fixed right to modify and requires its own recording for each deployment.

ADA price at $0.2294: 10.3% one-day decline amid broad market decline

The price section is listed separately. ADA traded at $0.2294, down 10.32% from 24 hours ago, down 5.54% from the previous week, and up 4.55% from the level 30 days ago. The market value is US$8.61 billion, and the transaction volume in the past 24 hours is approximately US$597.6 million, ranking 17th. The intraday high was $0.2579. All data are for Thursday afternoon and continue to change.

The one-day decline is not an isolated event. On Thursday afternoon, Bitcoin was down 2.54% at $81,265, and Ethereum was down 5.36% at $2,428. We separately described this morning the link between Bitcoin index fund outflows, the path of the Fed's interest rate and declines. In markets with weakened risk appetite, smaller assets are more volatile, and ADA declines greater than the two major crypto assets are a common pattern.

Linking activations to price changes is an assertion that lacks foundation. None of the reports reviewed established such a link, with one report clearly stating that price changes did not provide evidence of any impact of the switch. However, one expectation can be raised based on facts: if Cardano succeeds in attracting regulated issuers, there will be a demand for block space, which will require transaction fees to be paid to the ADA. Whether this happens depends on the publisher, not the code.

What's next: Do these signal display standards find users?

There are three things that can be observed without relying on anyone's assessment. The first is the number of registered token strategies, because the registration certificate is publicly recorded on the chain. The second is the announcement of the stablecoin issuer and fund provider on switching. The third is the change in the status of CIP-0113 from proposal to adoption standards.

Until then, there will be no changes in ADA holders. For people buying tokenized assets on Cardano, adds a question that doesn't exist before October 7, 2026: Who else can move this token but me?

CIP-0113: Only registered tokens carry new blocking rules

Classify your positions
Check if you hold any tokens on Cardano that are managed by the issuer, i.e. stablecoins or tokenized assets, other than ADA. Pure ADA positions are not affected.

Read the issuer's terms
Review the terms on freezing, forfeiture and transfers, and the sub-standards being used. For self-hosting and its limitations, hardware wallets are more helpful.

Double check collateral
If you pledge cryptocurrencies or lend them, determine in advance whether the tokens will be confiscated. The provider's terms are in the loan comparison.

The source of this article is specification CIP-0113 in the Cardano CIP Registry and the Cardano Foundation's description of programmable tokens. (As of October 8, 2026. This article does not constitute investment advice. Price and fee structures are subject to change; please check terms with your provider before purchasing.)

可编程代币将规则的执行从交易平台移至链上。对于ADA持有者来说，这没有改变任何东西；对于在Cardano上购买代币化资产的人来说，增加了一个在2026年10月7日之前不起作用的问题：除了我之外，还有谁可以移动这个代币？答案现在将位于发行方的条款及其选择的子标准中。