56 Companies Object to OKXICE Tokenized Stock Plan

OKXICE’s November 2 public notice listed 56 companies objecting to its proposed tokenized-stock venue, including Amazon, Tesla and SpaceX, as the venture seeks to develop a platform for trading blockchain-based versions of U.S. shares. The notice added six companies to the disclosed total, which had stood at 50 in an earlier update. Netflix, SoFi Technologies and Lam Research were the other additions. Of the 62 companies initially selected for the proposed trading lineup, 49 had objected, according to a count attributed to CoinDesk. Seven additional objectors were outside that original selection. The figures describe objections to OKXICE’s proposed venue, not necessarily opposition to tokenized securities generally. The objections are made under a Securities and Exchange Commission exemption that allows qualifying platforms to offer tokenized securities without registering as national securities exchanges, subject to conditions. Under the framework, issuers have 30 calendar days after receiving written notice to object to an unaffiliated venue’s proposed trading of their shares. The deadline varies with the date each company receives notice, and venues may take up to five...