Microsoft and Alphabet Object to Blockchain Versions of Their Shares, but Their Veto Only Goes So Far, Fortune

Partner Erin Martin spoke with Fortune about the growing number of public companies objecting to plans to trade tokenized versions of their shares and the limits of their ability to prevent such trading under a temporary US Securities and Exchange Commission exemption.

Erin explained that companies have 30 days after receiving notice to object to the proposed trading, making timely review of notifications particularly important. “There's not a proactive consent right. Rather, it is a reactive right to object,” she said. Erin also noted uncertainty about whether companies can withdraw their shares from a platform after the objection period expires and the potential challenges that round-the-clock trading presents for corporate disclosures. 

Read the full Fortune article >>
Subscription may be required.