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Crypto mom Hester came out to make a statement, and tokenized securities are securities whether they are on-chain or off-chain, which is equivalent to blocking the behavior of the side ball.
Think about it, we must do this, otherwise everyone can completely bypass the securities law system and give unlisted equity "STO" in advance, then not only OpenAI, but a bunch of companies will have to jump to their feet.

10.7.2025
Some thoughts on tokenization of securities:
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