The SEC’s policy shift could enable platforms to offer tokenized equities without requiring direct issuer approval or blockchain integration.
The SEC is set to allow third-party platforms to tokenize stocks without issuer consent, reversing its January guidance. The agency previously required issuers to formally integrate blockchain into shareholder records for legitimate tokenized exposure, limiting options to entities like DTCC’s upcoming July launch.
Under the new stance, platforms such as Kraken’s xStocks, Robinhood’s Arbitrum-based tokenized equities, and OKX’s private company perps could operate without direct issuer involvement. The January framework had warned that third-party products typically offered synthetic exposure rather than true equity ownership.
BTC remains flat at $76.8k, while HYPE surged 5% following the report. The shift could unlock a broader market for tokenized equities, though formal guidance is still pending.