Microsoft, Alphabet and Goldman Sachs join 16 issuers objecting to OKX-ICE tokenized stock trading

Microsoft, Alphabet and Goldman Sachs are among seven additional companies objecting to tokenized versions of their shares trading on OKX-ICE, bringing the total number of objecting issuers to 16. The objections highlight challenges for the SEC's tokenized-stock framework, which allows issuers to block venues from offering blockchain-based versions of their shares. OKX-ICE plans to offer 24-hour, stablecoin-settled trading of tokens backed one-for-one by shares, with the updated public notice dated Oct. 19 listing Qualcomm, Caterpillar, McDonald's and Western Digital as additional objectors.