Silence Equals Consent: Why American Companies Oppose OKXICE's Tokenization of Their Stocks?

The SEC's silence implies approval, yet companies are united in opposition.

Written by: Sebby Davies, Partner at Primal Capital

Compiled by: Chopper, Foresight News

When I first started writing, the statistics were different. On October 23, the tokenized securities trading platform OKXICE, launched by the Intercontinental Exchange (ICE) and OKX, announced the first batch of companies that refused to list tokenized stocks on the platform. The initial list included 62 companies, of which 19 raised objections. I was curious about the remaining 43. According to the SEC's new exemption rules, if companies do not respond, silence is deemed consent. I wondered what outcomes these silent companies would face under this default rule.

In the following ten days, 33 more companies from the original list joined the opposition, which made me quite anxious. By the updated announcement on November 3, the total number of opposing companies had reached 59. Cross-referencing with the initial list, 52 of them came from the original 62, leaving only 10 that had not publicly raised objections. The major companies I was monitoring were all on the objection list: JPMorgan and NVIDIA expressed their opposition at the end of October, followed by Amazon and Tesla on November 2, and Apple joined on November 3. (Translator's note: As of November 6, last Friday, 56 of the original 62 companies had expressed opposition, leaving only 6 that had not raised objections.)

Thus, my question changed. I initially wanted to explore what consequences

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