The World Federation of Exchanges (WFE), representing major global stock exchanges, has called on regulators including the U.S. Securities and Exchange Commission (SEC), the European Securities and Markets Authority (ESMA), and the International Organization of Securities Commissions (IOSCO) to tighten oversight of tokenized stocks. The WFE warned that these blockchain-based equities mimic traditional stocks but do not provide shareholder rights or market safeguards, posing risks to investors and potentially undermining market integrity. The federation emphasized concerns that tokenized stocks could mislead buyers and harm the reputations of listed companies. This call for increased regulation comes amid growing competition from tokenized assets and reflects a push by traditional exchanges to address investor protection and market stability issues associated with these digital securities.