Tokenization stocks slip as SEC delay puts 'speed bump' in crypto’s Wall Street push

MarketsTokenization stocks slip as SEC delay puts 'speed bump' in crypto’s Wall Street pushBullish, Coinbase, and Circle were among the names lower on Friday after the regulatory setback.By Krisztian Sandor|Edited by Stephen Alpher1 hr ago2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowShares 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.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 BLSH$24.42 fell about 8% in early trading, reversing gains following its second-quarter earnings report. The crypto platform, which owns CoinDesk, is acquiring transfer agent Equiniti as it builds infrastructure for issuing and servicing tokenized securities. Blockchain-based lender Figure (FIGR) also gave back its post-earnings advance, falling about 9% from Thursday's session high.Crypto exchange Coinbase COIN$148.98, which is pursuing its own tokenized-stock offering and recently picked Abu Dhabi as the offshore hub, declined 2%. Meanwhile, stablecoin issuer Circle CRCL$71.81 dropped nearly 4%. Beyond USDC, Circle operates the USYC tokenized Treasury product, which holds roughly $3 billion of assets.Securitize (SECZ), BlackRock's tokenization partner and issuer of the BUIDL tokenized Treasur…

Tokenization stocks slip as SEC delay puts 'speed bump' in crypto’s Wall Street push

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