SEC tokenized stock plan draws issuer objections as Nasdaq opts out
Eight more companies objected to trading on the planned OKX-ICE venue under the SEC's tokenized stock framework, while Nasdaq said it would opt out.
Eight additional companies have objected to having their shares traded on a planned OKX-ICE venue operating under the SEC's framework for tokenized stocks, according to CoinDesk. Broadcom and Verizon were among the companies raising objections.
Nasdaq has separately said it would opt out under the SEC's framework, signaling that not all market operators intend to take part in the arrangement as proposed.
The pushback highlights friction between trading venues and issuers over tokenized representations of public company shares. The report did not detail the full grounds for each company's objection.
The SEC's tokenized stock framework is meant to set conditions for venues that list tokenized versions of equities. Objections from issuers and Nasdaq's decision to opt out indicate the approach still faces governance and implementation questions.