--- title: "Asset tokenization in the Dominican Republic: SIMV, the Law 189-11 trust and tourist real estate" url: "https://www.unknowngravity.com/en/articulos/asset-tokenization-in-dominican-republic" site: Unknown Gravity published: "2026-09-21T12:09:02+00:00" modified: "2026-09-21T12:27:00+00:00" language: en-US description: "The Dominican Republic does not regulate crypto-assets — the Central Bank has repeated that they are neither legal tender nor backed — but it has an orderly securities market and the most used trust…" section: "Home > Cryptocurrencies and tokens > Asset tokenization in the Dominican Republic: SIMV, the Law 189-11 trust and tourist real estate" --- # Asset tokenization in the Dominican Republic: SIMV, the Law 189-11 trust and tourist real estate BLOG · LEARN WEB3 21 SEP 2026 2 MIN READ [Jesús Sánchez Fernández](/en/autores-post-del-blog/jesus-sanchez) ![Asset tokenization in the Dominican Republic: SIMV, the Law 189-11 trust and tourist real estate](/wp-content/themes/unknowngravity/assets/cms/667951006e75818d48be6f95_Tokenization%20in%20real%20estate%20header.webp) **The Dominican Republic does not regulate crypto-assets — the Central Bank has repeated that they are neither legal tender nor backed — but it has an orderly securities market and the most used trust in the Caribbean.** To tokenize tourist real estate and development projects the structure exists; what does not exist is the crypto label. ## The framework: SIMV, Law 249-17 and the Central Bank warnings The **Securities Market Superintendence (SIMV)** supervises issuers, intermediaries and offerings under **Law 249-17**. Crypto-assets have no framework of their own: the Monetary Board and the Central Bank warned that they are not legal tender nor backed, and that whoever uses them bears the risk. A tokenized security, by contrast, is a security: Law 249-17 and SIMV supervision apply. ## The vehicle: the Law 189-11 trust **Law 189-11** for the development of the mortgage market and the trust created an active trust industry, with authorised trustees and real estate, public-offering and guarantee trusts. It is the Dominican variant of the Latin American [fideicomiso](/en/glosario/fideicomiso) and the natural vehicle to fractionalise projects and income in tokens. ## What is being tokenized Tourist and residential real estate (Punta Cana, Santo Domingo, the north coast) — the asset that attracts the most foreign capital in the country — and development projects with pre-sales. The reading for an issuer: international small-ticket investor demand exists; the trust structure and the SIMV standard are what make it financeable. ## How we work with issuers in the country The anatomy does not change from country to country: classification of the asset, a vehicle with segregated assets, a token with transfer restrictions, verified identity on every transfer and serious custody — the [seven-layer platform](/en/articulos/regulated-tokenization-platform) we build, with the local legal layer on top and a local counsel alongside. The full map of the region is in [tokenization in Latin America](/en/articulos/asset-tokenization-in-latin-america). *Framework described as of mid-2026; regimes change — check the current status before structuring.* Project in the Dominican Republic? [Talk to us](/en/meeting). KEEP READING ## Related articles [21 SEP 2026 Asset tokenization in Bolivia: the Central Bank turn of 2024, ASFI and the trust](/en/articulos/asset-tokenization-in-bolivia) [21 SEP 2026 Asset tokenization in Venezuela: a crypto framework on hold, SUNAVAL and how to structure under uncertainty](/en/articulos/asset-tokenization-in-venezuela) [21 SEP 2026 Asset tokenization in Guatemala: no crypto law, the Securities Market Registry and the commercial trust](/en/articulos/asset-tokenization-in-guatemala)