JPMorgan, AMD and Coca-Cola Join Objectors to OKX-ICE Stock Tokens as Count Hits 33

Yahoo Finance ·

JPMorgan Chase, Advanced Micro Devices, and Coca-Cola are among seven new companies blocking tokenized shares from appearing on the upcoming Intercontinental Exchange and OKX trading platform, according to an updated public filing dated Oct. 27. This addition brings the total number of objecting issuers to 33, increasing from 26 in the prior day's version. The latest group also includes Applied Materials, Adobe, Dell Technologies, and Sandisk. Under SEC rules issued on Sept. 17, issuers have a 30-day window from notification to object, keeping their tokens off the venue. Meanwhile, Amazon Web Services has expanded its role as the cloud provider for the platform's infrastructure and website, replacing Alibaba Cloud in certain hosting capacities as outlined in the revised document.

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Seven companies, including JPMorgan, AMD, and Coca-Cola, have refused the listing of tokenized stock exchanges by OKX and ICE, bringing the total number of opposing companies to 33. Under SEC exemption rules, if companies submit a written objection within 30 days, the trading of those tokens is completely blocked. The successive participation refusals by major issuers reflect corporate concerns over legal and operational risks regarding unauthorized tokenization.

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With successive objections from issuers bringing the total number of companies refusing participation in tokenized stock exchange platforms to 33, the expansion of related crypto assets and decentralized securities trading infrastructure has hit a brake. This is interpreted as a defensive measure against corporate intellectual property protection and smart contract risks.

Whether additional companies will depart and how SEC regulatory guidelines will change serve as core monitoring indicators, and this may lead to adjusted adoption speeds for asset tokenization by traditional financial institutions and large corporations, raising concerns over a short-term contraction in the related crypto asset market.

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