Tokenization stocks slip as SEC delay puts ‘speed bump’ in crypto’s Wall Street push Bullish, Coinbase, and Circle were among the names lower on Friday after the regulatory setback. – Shares of tokenization-focused firms including Bullish (BLSH), Figure (FIGR), Coinbase (COIN)…
d Circle (CRCL) slipped Friday as the SEC delayed its planned “innovation exemption” for tokenized securities and canceled meeting on proposed crypto offering rules. – Uniswap’s UNI dropped 7% leading CoinDesk 20 index losses, as the exemption was expected to provide relief for trading securities on DeFi venues. – The regulatory setback is a “speed bump” for tokenization and may lengthen adoption, but does not derail momentum behind tokenized assets and 24/7 trading infrastructure, Clear Street managing director Owen Lau said. Tokenization-related stocks slid Friday after another delay to a long-awaited U.S. regulatory initiative weighed on investor sentiment towards the industry’s expansion into traditional securities
Bullish Crypto exchange Coinbase Securitize (SECZ), BlackRock’s tokenization partner and issuer of the BUIDL tokenized Treasury fund, was down 5% earlier in the session before it reversed losses, stabilizing after Thursday’s 27% plunge on missing earnings estimates. The moves followed CoinDesk’s report late Thursday that the Securities and Exchange Commission (SEC) was set to further delay its anticipated “innovation exemption,” which is expected to make it easier for companies to offer trading in tokenized securities. Concerns from the White House and Wall Street over the proposal’s legal footing and potential market impact have held up the plan.
Adding to the uncertainty, the SEC canceled a meeting scheduled for Friday where commissioners planned to consider whether to propose new rules creating a tailored offering regime for certain investment contracts involving crypto assets. The impact wasn’t limited to stocks. The innovation exemption had also been expected to provide…