Core Viewpoint - The World Federation of Exchanges (WFE) has urged regulatory bodies such as the SEC, ESMA, and IOSCO to enhance regulations on "tokenized stocks," highlighting potential risks to investor interests and market integrity due to the lack of shareholder rights and market protection mechanisms [1] Group 1 - WFE's letter emphasizes that some platforms are marketing these products as "US stock tokens" or "equivalent to stocks," while they do not actually represent stocks [1] - The promotion of tokenized stocks without proper regulatory oversight could lead to reputational risks for the associated listed companies [1]