The U.S. Securities and Exchange Commission has issued fresh guidance regarding regulations for tokenized stocks. This move signals tougher scrutiny of products that mimic equities without granting real ownership.
As per the guidelines drawn by the SEC, tokenized securities fall into two categories. First, tokens issued or approved by the underlying company. These can represent real equity if blockchain records are fully integrated into official shareholder systems.
The second category includes third-party tokenized stocks created without the company’s involvement. The SEC warned that many of these products only provide synthetic exposure rather than actual ownership rights.
This distinction gained attention after OpenAI publicly rejected tokenized “equity” products linked to its shares offered in Europe. The SEC stressed that using blockchain technology does not change how federal securities laws apply.
Third-party tokenized stocks may function as custodial products backed by intermediaries or as synthetic instruments that track prices without voting or information rights.
Regulators appear focused on limiting these products for retail investors while encouraging compliant, issuer-approved tokenization models.
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