Microsoft, McDonald’s, and 20 Others Tell Crypto Platform: Don’t Tokenize Our Stock
Microsoft and Others Tell Crypto Platform Not to Tokenize Their Stocks
At least 22 companies, including Microsoft, Alphabet, McDonald’s, Goldman Sachs, and Wells Fargo, have formally objected to OKXICE’s plan to offer tokenized versions of their shares under an SEC innovation exemption. OKXICE, co-chaired by Andrew Cuomo, intends to trade 63 U.S.-listed stocks around the clock. Companies have 30 days to object; if they miss the window, the platform can proceed. Critics call tokenized stocks regulatory arbitrage rather than democratization.
We always anticipated that, because this is such a dramatic and revolutionary change, many companies would want to wait and see how it goes rather than be the first to participate.