SEC tokenized stock framework faces issuer pushback as Broadcom, Verizon object to OKX-ICE listing
Source: CoinDesk ·
From the source
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. 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. Eight newly disclosed objections appeared in an October 15 public notice from OKXICE, the joint venture between crypto exchange OKX and New York Stock Exchange parent Intercontinental Exchange (ICE) preparing to offer tokenized stock trading. Alongside Broadcom, Verizon and UnitedHealth, the notice names AppLovin (APP), Applied Digital (APLD), Rocket Lab (RKLB), CoreWeave (CRWV) and Applied Optoelectronics (AAOI). It lists nine objecting issuers in total, including AI chipmaker Cerebras Systems (CBRS), which formally opted out of being listed earlier. The update did not disclose why the companies objected or when…