SEC Says Tokenized-Stock Venue List Does Not Confirm Eligibility

An issuer’s objection under the SEC’s temporary tokenized-stock exemption limits the offer on the notifying venue, leaving other platforms outside an automatic ban on tokens tied to the same shares. The Sept. 17 order requires a venue to notify an issuer before offering an unaffiliated third-party token linked to its stock. Trading may begin only after at least 30 calendar days from the issuer’s receipt of notice. The issuer can object in writing by the end of that window, preventing that venue from offering the token under the exemption. OKXICE’s Oct. 4 notice proposed 63 stock symbols and permissioned liquidity pools on XLayer using Uniswap v4. OKXICE’s notice described tokens backed one-for-one by underlying shares. The SEC order requires equivalent share rights, including voting and dividends.

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