Over the past couple of days, many people have been asking: Why does OKXICE need to consider publicly listed companies’ opinions when launching AMM Stock, while Binance’s bStocks and Kraken’s xStocks don’t?
It’s actually easy to understand, and I’ve mentioned it before.
OKXICE operates under the SEC’s innovation exemption framework in the United States. It can serve U.S. investors, and the SEC explicitly stipulates that publicly listed companies have the right to object to third parties tokenizing their stocks and trading them on the platform.
So if a company formally objects, OKXICE cannot list the token under its current plan.
By contrast, Binance’s bStocks and Kraken’s xStocks are not offered to U.S. investors. They follow compliance pathways outside the United States.
As long as they meet the relevant regulatory requirements in the jurisdictions where the products are issued and sold, they don’t necessarily need the consent of U.S.-listed companies.
Although both are tokenizing U.S. stocks, they operate under two different regulatory frameworks and are subject to different restrictions.
It’s actually easy to understand, and I’ve mentioned it before.
OKXICE operates under the SEC’s innovation exemption framework in the United States. It can serve U.S. investors, and the SEC explicitly stipulates that publicly listed companies have the right to object to third parties tokenizing their stocks and trading them on the platform.
So if a company formally objects, OKXICE cannot list the token under its current plan.
By contrast, Binance’s bStocks and Kraken’s xStocks are not offered to U.S. investors. They follow compliance pathways outside the United States.
As long as they meet the relevant regulatory requirements in the jurisdictions where the products are issued and sold, they don’t necessarily need the consent of U.S.-listed companies.
Although both are tokenizing U.S. stocks, they operate under two different regulatory frameworks and are subject to different restrictions.