Vlad Tenev said Robinhood stock tokens should not automatically require issuer consent and acknowledged that holders do not receive voting rights.

Robinhood's Vlad Tenev said public companies can’t control financial products built around their stock while acknowledging token holders don’t get voting rights.

Tenev told CNBC's "Squawk Box" on Wednesday that public companies shouldn't have veto power over third-party securities that reference their shares.