OKX US CEO Calls for Rights Parity in SEC’s Tokenized Stock Trial

The SEC’s September 17 exemption allows venues to trade tokenized shares using automated market makers and liquidity pools, provided the tokens mirror the rights of conventional assets. Robert argues that moving a share to a blockchain should not alter the underlying claim on a company. Under the current mandate, synthetic products that merely track price movements without conferring ownership or voting privileges fail to qualify for this regulatory pathway.

To bridge the gap between traditional and digital markets, the SEC requires venues to notify issuers before third-party tokens begin trading. Companies hold a 30-day window to object, a safeguard Robert believes will keep tokenized assets aligned with corporate disclosures. Beyond ownership rights, the trial forces a confrontation with market mechanics: automated pools may struggle to match the pricing precision of conventional exchanges, potentially creating gaps between tokenized and native stock valuations. During this five-year window, the SEC will observe how these liquidity pools function, using the resulting data to determine if current regulations require long-term updates.