Growing List of Firms Object to OKX-ICE Tokenized Stock Plans

Intel, Oracle, IBM and IonQ have joined a growing list of companies objecting to having tokenized versions of their shares traded through OKX and Intercontinental Exchange's blockchain venture, bringing the total number of objections to 26. About 37% of the companies on OKXICE's original list have now opted out, according to CoinDesk. From the report: The four companies were named in an updated public notice (PDF) dated Monday, Oct. 26, from OKXICE, the two firms' joint venture. They join earlier objectors including Microsoft, Alphabet, Goldman Sachs, Cisco and Wells Fargo. The growing list underscores a hurdle for OKXICE and the SEC's new framework for tokenized stock trading: building a market that issuers are willing to join. The agency's five-year "Innovation Exemption" gives qualifying venues room to test round-the-clock blockchain-based trading of stocks, and it also gives public companies an option to block their shares from being offered.