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Crypto tokens tied to the value of stocks could mislead investors as they don’t usually give holders the same rights as a direct shareholder, says the European Union’s markets regulator.
Several companies have tokenized stocks and derivatives that are backed by the shares they represent held in a special purpose company, European Securities and Markets Authority (ESMA) executive director Natasha Cazenave said at a conference in Dubrovnik, Croatia on Monday.
“These tokenized instruments can provide always-on access and fractionalisation but…
