Schiff Sees Tokenized Stocks as Threat to Bitcoin

Bitcoin rallied after the SEC announced a new exemption for tokenized stock trading. However, not everyone is celebrating.

Peter Schiff, a longtime Bitcoin critic, believes that the market has gotten it backwards.

The SEC's 'Innovation Exemption' allows qualifying US trading platforms to conduct liquidity pool trading of tokenized National Market System stocks without registering as traditional exchanges or dealers.

Tokenized stocks must be fully backed by actual equities and confer identical shareholder rights, including dividends and voting power.

Schiff thinks that if investors can own tokenized versions of real equities with real benefits, why would they need Bitcoin at all?