Overview
- Regulatory filings reviewed by multiple outlets on Friday showed six more firms including Wells Fargo, Arm and Intuit objected to OKXICE’s proposal, bringing the disclosed total to 22 companies.
- OKX and Intercontinental Exchange filed on Oct. 4 to launch tokenized trading of roughly 62–63 U.S. stocks under the SEC’s five‑year Innovation Exemption and have not begun live trading.
- Under the exemption venues must notify issuers and give them 30 days to object, and an issuer’s formal objection blocks tokenized trading only on the notifying OKXICE venue.
- Issuers cite practical concerns that include who holds the underlying shares, how dividends and voting rights reach token holders, lack of consolidated‑tape reporting, and thin on‑chain liquidity that could weaken price discovery.
- OKXICE co‑chair Andrew Cuomo described the project as a limited sandbox and said objections were expected, but the growing opt‑outs raise questions about whether institutional and issuer uptake will scale in the U.S.