CoreWeave and Broadcom have rejected the trading of tokenized versions of their shares on OKXICE, a platform seeking to offer digital securities trading around the clock. Cerebras Systems has also objected.
The platform operates under an SEC regulatory exemption that allows the trading of tokenized shares issued by third parties. Under its terms, companies have 30 days to object to their inclusion after receiving a notification. If they fail to respond within that period, the platform can proceed.
OKXICE submitted a filing to list tokens linked to more than 60 U.S. companies, including Nvidia, Tesla, Apple, Microsoft, Coinbase, and Strategy. Trading would take place through pairs denominated in USDC, USDG, and USDT.
The exemption took effect on September 17 and will remain valid for five years. However, a company’s objection, as in CoreWeave’s case, only applies to the platform that sent the notification and does not prevent its shares from being tokenized on other markets.
The regulation has also drawn criticism from law firms and financial service providers, which have urged the SEC to establish an explicit consent system and a public registry of objections to prevent companies from being included without their express authorization.
Source: https://www.theinformation.com/briefings/coreweave-broadcom-object-shares-tokenized-blockchain
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