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Securities Transfer Association Lobbies SEC Against Third-Party Stock Tokens, Warns of Market Integrity Risks

GateNews
Regulation & PolicyStocks
ONDO-3.25%
According to ChainCatcher, the Securities Transfer Association (STA), representing major Wall Street transfer agents, recently submitted comments to the SEC warning that third-party stock tokens may undermine market integrity and expose investors to platform credit, custody, and operational risks. The STA argues that tokenized securities should be issued and authorized directly by companies and recorded in official shareholder registers, rather than created as "wrapper" products by independent platforms. The association urged the SEC to prioritize issuer-supported models in any innovation exemptions or regulatory frameworks for tokenized securities. The global tokenized equity market, currently valued at around $2 billion, is predominantly dominated by third-party platforms including Ondo Finance and Kraken, while firms like Securitize and Figure operate under issuer-authorization models.
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