【World Federation of Exchanges Calls for Strict Crackdown on Trading Platforms Offering Tokenized Stocks】 According to Golden Finance, the World Federation of Exchanges (WFE) has called on global regulators to take action to address the risks associated with unlicensed brokers and cryptocurrency trading platforms engaging in the tokenization of securities. In a letter to the U.S. Securities and Exchange Commission (SEC) Cryptocurrency Special Working Group, the International Organization of Securities Commissions (IOSCO) Financial Technology Special Working Group, and the European Securities and Markets Authority (ESMA), the industry organization emphasized that current market concerns regarding investor protection and market integrity are intensifying.