SEC tokenized stock framework faces issuer pushback as Broadcom, Verizon object to OKX-ICE listing
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Eight more companies objected to trading on the planned OKX-ICE venue, while Nasdaq has separately said it would opt out under the SEC’s framework. Broadcom, Verizon and UnitedHealth are among nine companies objecting to having their shares traded on OKXICE’s planned tokenized-stock platform.
The venue would use the SEC’s five-year Innovation Exemption to offer around-the-clock trading of blockchain-based shares backed one-for-one by underlying stock. Issuer resistance and uncertainty over the temporary regulatory framework could limit available stocks and discourage institutional investment in tokenized trading infrastructure.
The SEC’s new framework for trading tokenized stocks is encountering resistance from some of the companies whose shares could trade, with Broadcom (AVGO), Verizon (VZ) and UnitedHealth (UNH) among the latest issuers to object.
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© CoinDesk
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Eight more companies objected to trading on the planned OKX-ICE venue, while Nasdaq has separately said it would opt out under the SEC’s framework. Broadcom, Verizon and UnitedHealth are among nine companies objecting to having their shares traded on OKXICE’s planned tokenized-stock platform.
The venue would use the SEC’s five-year Innovation Exemption to offer around-the-clock trading of blockchain-based shares backed one-for-one by underlying stock. Issuer resistance and uncertainty over the temporary regulatory framework could limit available stocks and discourage institutional investment in tokenized trading infrastructure.
The SEC’s new framework for trading tokenized stocks is encountering resistance from some of the companies whose shares could trade, with Broadcom (AVGO), Verizon (VZ) and UnitedHealth (UNH) among the latest issuers to object.
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© CoinDesk