Six more companies, including Wells Fargo and Cisco, filed objections on Friday to the proposed OKX–ICE tokenized stock venue, taking the total number of objecting companies to 22, according to CoinDesk.
Summary
- Wells Fargo, Cisco, Arm, Moderna, Intuit and Marvell filed objections on Friday to the OKX–ICE tokenized stock venue.
- The six new filings take the total number of objecting companies to 22.
- The objectors are drawn from a 62-company roster covered by the SEC’s proposed five-year Innovation Exemption.
- The venue is a joint proposal from crypto exchange OKX and Intercontinental Exchange (ICE), the owner of the New York Stock Exchange.
The objections were filed as part of the consultation around the Securities and Exchange Commission’s proposed Innovation Exemption, a five-year framework under which the tokenized stock venue would operate.
Six new names join the objection list
Friday’s filings came from Wells Fargo, Cisco, Arm, Moderna, Intuit and Marvell — a group spanning banking, networking hardware, semiconductors, biotechnology, financial software and chip design.
With the six additions, 22 companies have now formally objected to the venue — more than a third of the 62-company roster the exemption would cover.
A split between issuers and market operators
The proposal pairs OKX, one of the largest crypto exchanges, with ICE, which owns the New York Stock Exchange — putting a traditional market operator on the same side as a crypto venue in a debate that has largely been driven by incumbent issuers and exchanges.
The objections add to the public record the SEC will weigh as it decides on the Innovation Exemption. No final decision date has been announced.
