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.
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Summary
- Shares of tokenization-focused firms including Bullish (BLSH), Figure (FIGR), Coinbase (COIN) and 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.
