The American Financial Industry Association opposes the exemption application for tokenized stocks and urges the SEC to adopt a public review process

Odaily Planet Daily News: The Securities and Financial Markets Association (SIFMA) has sent a letter to the SEC Cryptocurrency Working Group, opposing cryptocurrency companies such as Coinbase and Kraken's application for exemption from issuing tokenized stocks. SIFMA stated that the relevant requests are "seriously concerning" and called on the SEC to listen to opinions through a public process to avoid quick approval in an opaque manner. SIFMA emphasizes that such major policies should not be directly addressed through "exemption from implementation" or exemption forms. The association also questioned whether the SEC could regulate unregistered entities and protect investor rights. （The Block）