According to CoinMeta, Adam Allen, the CEO of AMC, referred to the tokenization of AMC stocks by Robinhood as a "quasi-illegal market" and threatened to take legal action. Robinhood founder Vlad Tenev countered, stating that listed companies cannot approve every product built on their stocks. A debate ensued over which type of tokens are legal: packaged tokens or issuer-sponsored tokens. On September 17, the U.S. Securities and Exchange Commission (SEC) issued a five-year exemption allowing tokenized U.S. stocks to be traded on blockchain, provided that the tokens enjoy the same rights as the stocks. Data from August 31 to September 9 showed that the AMC tokens of Robinhood differed from the closing price of AMC by 0.87% when the underlying market was open, but the token price soared to $23.16 when the market closed, before falling back to $3.26, with a trading volume of 10.5 million dollars.