Walmart, Eli Lilly, Cigna Group, Carnival and Arcos Dorados have objected to plans to offer tokenized versions of their shares on a trading venue backed by OKX and ICE. Their objections, dated October 28, bring the total number of objecting companies to 38, up from nine on October 15, and include McDonald's, Microsoft, JPMorgan Chase, Coca-Cola and Dell Technologies. Under the SEC's September order, a company that submits a written objection within 30 days prevents the venue from listing that tokenized stock under the exemption, though the notices do not explain the reasons. The venue, OKXICE TSV, is a joint venture between ICE and OKX's US holding company, and plans to let approved users trade tokenized US stocks around the clock on Uniswap v4 pools on OKX's XLayer blockchain. Nvidia, Tesla, Apple and Amazon have not yet objected.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
Keywords
tokenizationcryptoregulationexchanges
Open a keyword to see other news on the same topic.
Related news
- Why centralized exchanges refuse to list legacy crypto tokens without explicit SEC immunity
Vault12, a crypto wallet backup firm backed by Winklevoss Capital and Naval Ravikant, warned in a comment letter to the SEC that the proposed token safe harbor under Regulation Crypto Assets may leave exchanges reluctant to list tokens because of the risk of a later regulatory challenge. The company raised $17.45 million from 38 investors in 2018 through agreements for future tokens, and says it has fulfilled or abandoned every white paper commitment, yet VGT has never traded on a centralized exchange. Vault12 proposes a 60-day window for SEC objections, after which a properly filed certification would become conclusive, except in cases such as fraud or material misstatements.
- Australia's financial watchdog seeks stiffer rules for crypto exchanges ahead of licensing deadline
Australia's financial regulator, ASIC, has proposed standards requiring crypto exchanges and digital asset custodians to safeguard customer funds, ensure transparent trading and meet financial requirements. The rules take effect on April 8, 2027, and existing firms can keep operating if they apply for a license by Oct. 7, 2027, while ASIC reviews their applications. The consultation closes on Nov. 27, with final guidance expected in March 2027. The move aims to bring crypto businesses under a framework similar to traditional financial firms, following the 2022 collapse of FTX, which left about 30,000 Australian customers unable to access their money. ASIC said it has received more than 140 applications for authorization.
- South Korea Exchange Ban Hits KuCoin, MEXC and 25 Other Platforms
South Korea's Financial Intelligence Unit (FIU) said authorities ordered a domestic access ban on 27 websites of unregistered overseas crypto exchanges, including KuCoin, MEXC, Phemex, BingX and BitMart, extending enforcement from app stores to websites. Regulators treat a platform as operating locally based on factors such as Korean-language sites, marketing to Korean users and support for won payments, and the communications review body approved the measures after reviews on October 6 and 7. The FIU had earlier asked Google and Apple to restrict unregistered exchange apps, with Google Play restricting 17 platforms in March 2025. Operating without registration can bring up to five years in prison or a fine of up to 50 million won. The FIU urged users to withdraw assets immediately despite the risk that blocks could make withdrawals harder, and a June probe by DAXA and registered operators found flagged exchanges charged average fees of 1.5% to 10%, versus 0.16% at the five largest won-based exchanges.
- Nasdaq-listed Canton Strategic Holdings plans tokenized stock trading from Nov. 2
Nasdaq-listed Canton Strategic Holdings, formerly Tharimmune, plans to tokenize its common shares on the Canton Network, with trading possibly starting Nov. 2. Partners TSV LLC, a trading venue for tokenized securities, and Fairmint, an SEC-registered transfer agent that will keep ownership records and oversee compliance, are supporting the rollout. The tokenized shares would carry the same shareholder rights as the Nasdaq-listed stock, with round-the-clock trading through an automated market maker and immediate settlement, under the SEC's September innovation exemption. The company shifted to digital assets in November 2025 after raising $545 million, and it holds Canton Coin and invests in Canton Network projects, though it is not the network's developer, Digital Asset. At last look, CNTN was up more than 4.5% at about $2.13, with a market cap of $170 million.
- Robinhood’s Tenev warns US tokenization uncertainty deters ‘serious assets’
Robinhood CEO Vlad Tenev says uncertainty over how long US tokenization rules will last could keep investors from putting substantial assets into tokenized markets, even though the SEC has opened a temporary path through an innovation exemption. He says further rulemaking or legislation is needed to provide longer-term certainty, and Binance Research projects the tokenized equities market could reach $349 billion by 2030 under its base case, from $4.43 billion as of Sept. 15. In the third quarter, Robinhood's crypto revenue fell 55% year on year to $120 million and crypto notional trading volume fell 38% to $50 billion. By contrast, event-contract revenue rose sixfold to $173 million, and total net revenue rose 12% to a record $1.42 billion, below analyst expectations. Adjusted EPS was $0.60, missing estimates by 4 cents.
- Why McDonalds, Microsoft and Google saying no to tokenized stocks isn't a dealbreaker
So far 22 publicly traded companies have objected to having their shares tokenized and traded on the OKX and ICE venue under the SEC's innovation exemption, including Microsoft, Alphabet, Goldman Sachs, McDonalds, Wells Fargo and Cisco. Under the rules, a venue must notify the issuer and allow 30 days to object; silence counts as consent and cannot be withdrawn once trading begins, so objecting can be the rational choice for legal and investor-relations teams still assessing the new structure. Some industry figures say the objections reflect caution toward a new process rather than rejection of tokenization, while Nasdaq objects to trading tokenized versions of its stock outside the National Market System over concerns about fragmented liquidity and weaker price discovery. Securitize and BitGo said they will not object to the listing.
Related markets
Latest news
- These 2 Stocks Have Skyrocketed in 2026. Here’s Why I’d Stay Away
Moderna (MRNA) shares are up 570% and Iovance Biotherapeutics (IOVA) up 433% so far this year, following clinical and commercial progress. The author argues Moderna's $77 billion market cap already prices in its personalized cancer vaccine intismeran autogene despite positive Phase 3 results; assuming $5 billion in profits by 2031 and a 12% required rate of return, the company would need a forward P/E of 27.1 to justify today's valuation. For Iovance, second-quarter revenue rose almost 66% to $99 million on Amtagvi sales and loss per share narrowed to $0.11, but trailing 12-month revenue was $324.9 million against a $6.6 billion market cap. The author highlights manufacturing, administration and clinical-regulatory risks, and is skeptical Iovance can outperform the broader market over the next five years.
- Crypto Spends $176 Million on Midterms, But Only 13% of Voters See It as a Priority
Only 13% of Americans say it is very important for candidates to support crypto and DeFi, according to an Ipsos survey for the DeFi Education Fund. A broader item, encouraging the building of next-generation financial technology in the U.S., ranked highest at 35%, with Republicans leading Democrats 45% to 30% on that item. Meanwhile, the crypto industry has spent about $176 million on more than 100 midterm races this cycle, per a Reuters review, with Fairshake and its affiliates accounting for about $150.8 million through Oct. 20. The Clarity Act failed a key Senate vote in September over ethics provisions tied to President Donald Trump's crypto interests, and the industry has since turned to the SEC and CFTC to write rules. The survey also found 63% say the financial system needs an upgrade to combat threats like AI and cybercrime.
- Cruise companies aim to keep fuel costs down. Their strategies for doing so differ
Carnival, Royal Caribbean and Norwegian Cruise Line Holdings posted strong quarterly earnings despite rising fuel prices. Brent crude reached a six-month high of $116.72 per barrel after the U.S.-Israel war with Iran began on Feb. 28. Royal Caribbean and Norwegian use derivatives to hedge fuel costs, while Carnival CEO Josh Weinstein says cutting consumption is the best way to control costs; the company says its unit fuel consumption fell 26% since 2019, saving an estimated $700 million in 2026. Royal Caribbean is a little over 60% hedged for 2026 and Norwegian about 48%. Jefferies analyst David Katz said hedging helps manage fuel costs and reduce stock volatility, though it is more expensive over the long term.
- Yardeni Says AI Investment Boom Is Here To Stay — But Warns AI Stock Jitters Could Persist
Market veteran Ed Yardeni expects the AI investment boom to continue but warns AI-related stocks could stay volatile. He cites three factors reviving confidence: about $235 billion in prospective AI financing, including Anthropic's (ANT) expected $100 billion IPO, Meta Platforms' (META) plans to raise up to $95 billion via equity, and SpaceX's (SPCX) $40 billion GPU financing; improving AI economics; and strong semiconductor earnings. Anthropic's IPO filing showed first-half revenue rising to $16.3 billion from $1.2 billion, with operating losses narrowing to $693 million from $2.1 billion, and customers spending at least $100,000 annually climbing to 11,900 from about 950. Google Cloud revenue more than doubled to $30.7 billion, while SK Hynix's (SKHY) third-quarter operating profit rose more than sevenfold. On the FOMC's 10-2 vote to hold rates at 3.75%–4%, Yardeni Research said another 50 basis points of tightening is needed to return rates to a neutral 4.25%–4.50%, and it would not rule out a 50-basis-point hike in December.
- Why Alphabet (GOOGL) shares are sliding today
Alphabet (NASDAQ:GOOGL) shares fell 12.1% in the morning session after third-quarter results showed slowing search advertising growth and surging AI capital expenditures. Revenue rose 25% to $127.58 billion, roughly in line with the $127.9 billion consensus, but diluted EPS of $2.12 missed the expected $3.02, partly due to an $8.7 billion loss on equity securities. Capital spending reached $51.36 billion, pushing free cash flow to negative $9.07 billion, and Google Search revenue grew 12% to $63.35 billion, below Street forecasts. CFO Anat Ashkenazi said capital spending will rise significantly next year from the current $195 billion to $205 billion guidance range, and the stock is now at $286.27, 28.9% below its 52-week high of $402.62.
- Sprouts Guides to Steeper Store Sales Drop: Rapid Earnings Reaction
Sprouts Farmers Market expects comparable store sales for the fourth quarter to fall 2% to 4%, after a 0.9% decline in the third quarter, and shares dropped about 19% in Thursday morning trading. Net sales rose 5% to about $2.3 billion on a record 15 openings, but gross margin slipped to 38.2% from 38.7%, and operating income fell about 3%. Diluted EPS was $1.21 versus $1.22 a year earlier, with buybacks cutting the diluted share count by roughly 5% even as net income dropped about 6%. Management plans to use margin to lower prices to win back shoppers, and guides fourth-quarter EPS to $0.47 to $0.51 on a 13-week basis.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.