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The SEC just set the bar for tokenized stocks, and Robinhood's version doesn't clear it "This is what I was talking about before, the innovation exemption from the SEC, and it took all of two days after the Clarity Act for it to happen. I took some notes because... show more
43,666 görüntüleme • 1 gün önce •via X (Twitter)
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$nxh holds 38% of #tzero

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Voting rights is the requirement nobody has plumbing for. One for one backing is a custody question and dividends are a payments question, both of those are solved. Proxy voting through a token wrapper needs a transfer agent that speaks ERC-20, and that vendor does not exist

Cross collateralization is also a key issue. They can’t use the same liquidity pool

The tokens to be back one-to-one means real assets. The other tokens, however, backed by nothing and just market cap won’t be trusted by banks

$COIN qualifies 😎

💯✅ Of course they will. 🫰👏🫰

Clear breakdown. Along with @AdamJohnstph, you’re at the top of my feed for SEC/tokenization takes.

If the wrapper doesnt clear the bar, it isnt the same stock. The rules are the product.

This is huge news.

@chainlink CRE is going to make this all possible & relatively painless especially for @RobinhoodCrypto since they’re already integrated

Permissioned AMMs. NMS stock compliance. Specific liquidity architecture. Robinhood's EU build doesn't fit the US spec. That's not rejection. That's the standard being written in real time. Read the exemption carefully.

the exemption is permission, not a free pass

tokenized stock is ahead of the rulebook. backing, voting and dividends are the checklist - miss one and it's just a wrapper.

Really appreciate the clarity here. Sometimes simple explanations provide the most value. You and @StevenB78325104 consistently deliver that.

two days is the tell. they had this drafted and were waiting to see if congress would do it for them

Great breakdown
