Watch Desk posted an update
Microsoft, Alphabet and Goldman Sachs are among 22 companies objecting to OKXICE’s plans for blockchain-based versions of US shares, Coinpaper reports. The latest objections, including those from Arm and Wells Fargo, were filed by 23 October, according to the report citing Reuters.
Why it mattersUnder the SEC framework described by Coinpaper, companies can object to proposed third-party tokenised shares within 30 days of notification. An objection prevents the venue from offering those specified shares through that route; it does not ban companies from tokenising their own shares or block other securities products. The companies have not collectively explained their objections, so this is not evidence that they oppose blockchain technology outright. But it is a sizeable challenge to one proposed route into tokenised trading.
Discuss: Should companies have the power to block third-party tokenised versions of their shares?
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