SEC Tokenized Stock Plan Draws Corporate Pushback From Broadcom, Verizon
Broadcom and Verizon have objected to a proposed OKX-ICE tokenized stock listing framework under SEC review.
Major corporations including Broadcom and Verizon have registered formal objections to a regulatory framework that would allow tokenized versions of their shares to be listed on a platform operated by OKX in partnership with Intercontinental Exchange, according to a CoinDesk report.
The pushback from established issuers signals early friction in the Securities and Exchange Commission's effort to develop rules governing tokenized equities — digital representations of traditional stocks recorded on a blockchain. While regulators and crypto-native exchanges have moved toward accommodating such instruments, the opposition from underlying share issuers introduces a complicating factor that regulators will need to address.
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The objections raise questions about consent and control: whether a company whose stock is being tokenized must approve the process, and what rights — if any — holders of tokenized shares would have relative to holders of conventional equity. Those legal and structural ambiguities are central to the broader debate over how securities law should apply to blockchain-based financial instruments.
The dispute underscores the tension between crypto-market participants eager to bring traditional assets on-chain and the corporations and legal frameworks that govern those underlying assets. ICE, the parent company of the New York Stock Exchange, lends institutional credibility to the OKX initiative, but corporate resistance could slow or reshape whatever framework the SEC ultimately adopts.
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