Someone just asked me whether the SEC’s approval of the Tokenized Stock rules is bad news for memetoon:native, so I want to share my personal view:I don’t think this is necessarily bad news.
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The SEC’s new rules do address an important issue: when a third party tokenizes an NMS stock, it needs to notify the underlying stock issuer and give the issuer an opportunity to object. At the same time, Tokenized Stocks that qualify under the exemption need to provide the same rights and privileges as the traditional stock.
But there are two things that need to be separated here.
SEC approval ≠ MEME being invalidated
The SEC is mainly addressing the regulatory framework for Tokenized Stocks, not directly targeting MEME.
The current dispute between AMC and Robinhood is also centered around Robinhood’s tokenized AMC product and whether the issuer has the right to prevent a third party from creating financial products linked to its stock.
Robinhood’s position is that Stock Tokens are debt securities separately issued by Robinhood and backed 1:1 by the actual stocks, rather than AMC shares themselves being directly issued.
So I would break it down like this:SEC approval → Tokenized Stock infrastructure gets a clearer regulatory framework
AMC issuer-consent issue → Regulatory / legal issue surrounding a specific tokenized AMC product
For MEME, what really matters is whether the AMC × Robinhood × Tokenized Stocks dispute can continue generating Attention.
Because MEME’s core Narrative was never really “AMC stock itself.” It is:AMC → Tokenized Stock → Robinhood → Meme → Robinhood Chain
So I wouldn’t directly interpret the SEC’s new rules as a negative catalyst for MEME.
On the contrary, if the regulatory framework becomes clearer and Tokenized Stocks continue to develop, it could actually bring more Attention to the:
Meme + Tokenized Stock + Robinhood Chain
Narrative.
So for now, what I’m watching is not the SEC approval itself, but:
Will the AMC dispute continue to develop → Will Robinhood Stock Tokens continue to expand → Will the Tokenized Stock ecosystem on RH Chain continue to grow → Can MEME continue to carry this Narrative?
Chart: https://t.co/NZ4mPsizc4
Hey there @dangallagher, in the past week you and @vladtenev CEO of Robinhood have made public comments defending your use of and “standing behind” your relatively new Stock Token concept.
I think this practice is abhorrent. It defeats the very ethos of share ownership. Public financial markets were created so that companies could raise capital, and so that investors could share in the wealth created as a result. Not to turn investing instead merely into some gamified business-oriented casino.
If by your own admission you can’t offer or sell Stock Tokens to “U.S. persons” why does your U.S. web site talk about them so much and so favorably?
Vlad: How can a U.S. brokerage firm be proud of creating an offshore Channel Island operation in far off Jersey specifically with the intent to operate outside U.S. securities laws? Is there potential confusion that Stock Token purchasers are getting less than all the rights accorded to real shareholders, and if so do you care? If those tokens are theoretically backed 1:1 by real shares, but hypothetically some of those underlying real shares are in turn lent out to short sellers, are the Tokens really backed 1:1 in fact?
Dan: I think U.S. securities laws have protected the public very well over the past century. You spent much of your career at the SEC. Deep down, in your heart of hearts, how can you really think a world without the precautions imposed by U.S. securities laws creates a better, safer environment for investors?
Choose whatever descriptors you think best make sense under the circumstances: Non-regulated, derivative, synthetic, sham, debt-backed securities trying to simulate actual real stock, or pick your own words if these don’t fit.
Stock Tokens may make you an innovator in your own eyes. In my eyes, they bring your firm dishonor.
Buyers help us accumulate more copper.
Sellers help us accumulate more copper.
Buyers help us burn more copper inu.
Sellers help us burn more copper inu.
Holders win: as their holdings get paid off + become more valuable as supply is burnt.
TL;DR: We can range forever and still make money.
Inunomics.