Can companies stop third parties trading tokenized US shares?

A US experiment allows certain venues to trade tokenized stocks under temporary conditions. The most revealing dispute concerns third parties that put shares onchain without the company’s involvement. Investors still need to know who holds the share, what rights travel with the token and what happens if the company objects. The US Securities and Exchange Commission has opened a conditional route for trading tokenized stocks on certain venues, with a 30-calendar-day objection period under the notice process for shares tokenized by unaffiliated third parties. The Commission’s order covers securities tokenized by or on behalf of the issuer as well as those tokenized by a third party. The SEC staff’s FAQ addresses how the issuer notice process applies while the objection window is still open.

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