FOR IMMEDIATE RELEASE
Libertarian Party of Ohio Calls Out Dangerous “Tokenization” of Real Property
Protecting Individual Financial Rights from Corporate Overreach
COLUMBUS, OH — The Libertarian Party of Ohio is calling on state legislators to reject or amend House Bill 195. The bill threatens direct property ownership and exposes Ohioans to financial control by corporate interests.
HB195 updates Ohio’s Uniform Commercial Code to recognize digital and tokenized assets. It also grants new powers to banks and intermediaries that could undermine real ownership of homes, savings, investments, and digital property.
“This bill does not protect Ohioans. It protects corporate creditors,” said Party Chair Michael Sweeney, “If your home, car, or savings exist as digital tokens, whoever controls those records could claim ownership in a financial crisis. The same structure allowed families in 2008 to lose homes they were current on when financial institutions failed.”
Key Concerns:
Corporate control over personal assets: HB195 defines “control” so banks or custodians can act as legal owners of tokenized property.
Priority for secured parties: In bankruptcy or default, creditors can seize tokenized assets before returning them to individual owners.
No consumer protections: The bill lacks safeguards for homeowners, retirees, and small investors who could be treated as “beneficial holders” rather than true owners.
Rushed implementation: Ohio risks repeating South Dakota’s mistake in approving similar provisions without public review.
The Libertarian Party of Ohio urges citizens to contact their state representatives and demand removal of the digital ownership language. Real property rights must remain in the hands of the people, not financial institutions.
Contact:
Libertarian Party of Ohio
press@lpo.org
