World Federation of Exchanges Sends Letter to the SEC, Requests Review of Exemptions for Cryptocurrency Firms Concerning Tokenized Stocks

On November 21, the World Federation of Exchanges submitted a letter to the cryptocurrency task force of the U.S. Securities and Exchange Commission, requesting a review of the comprehensive exemption measures for cryptocurrency companies that offer tokenized stocks. Members including Nasdaq, the Chicago Options Exchange, and CME Group have expressed concerns about cryptocurrency trading platforms performing similar functions to stock exchanges without proper regulatory compliance.

The letter, signed by CEO Nandini Sukumar, highlighted the surge in brokers and cryptocurrency trading platforms offering tokenized U.S. stocks, expressing caution over these products, which are marketed as stock tokens or equivalents to stocks...