Several major U.S. corporations, including Broadcom, Verizon and UnitedHealth Group, have formally objected to plans to create and trade tokenized versions of their shares. [2, 6] The tokens were proposed for OKXICE, a new 24/7 trading venue and joint venture between crypto exchange OKX and Intercontinental Exchange, the parent company of the New York Stock Exchange. [3, 7]
The objections were filed under a new U.S. Securities and Exchange Commission innovation exemption framework. It gives companies 30 days to veto trading in their tokenized shares. [6, 11] Nine of the 63 companies on the initial list have objected. [2, 3, 7] Some cited concerns about potential effects on stock prices and liquidity. [2, 3, 7]