PANews reported on August 26th that, according to Finance Feeds, the World Federation of Exchanges (WFE) called on global regulators to address the risks posed by unregulated brokers and crypto-asset trading platforms to tokenized stocks. The organization sent a letter to the U.S. Securities and Exchange Commission's Cryptocurrency Working Group, the International Organization of Securities Commissions' Fintech Task Force, and the European Securities and Markets Authority, highlighting concerns about investor protection and market integrity. The WFE noted that while these tokens mimic the performance of U.S. stocks, they often lack the shareholder rights and safeguards associated with traditional stocks, potentially leading to regulatory arbitrage, legal uncertainty, and a lack of transparency, undermining public confidence in regulated markets. Key issues include fragmented liquidity, jeopardized retail investor rights, inadequate platform risk disclosure, and custody and legal recourse risks. The WFE urged regulators to take four measures: apply existing regulations equally to tokenized and traditional instruments; ensure consistent disclosure and settlement standards; strengthen international regulatory coordination; and clarify the legal framework for ownership and custody.