Bullish (BLSH), Coinbase (COIN), Circle (CRCL) slide as SEC delay weighs on tokenization trade

Shares of tokenization-focused firms like Bullish, Coinbase, and Circle fell after the SEC delayed its "innovation exemption" for tokenized securities and canceled a meeting on proposed crypto offering rules. This regulatory setback is seen as a "speed bump" for the tokenization trend, potentially lengthening adoption, but analysts believe it won't derail the long-term momentum behind tokenized assets and 24/7 trading infrastructure. The delay also impacted DeFi trading, with Uniswap's UNI token dropping significantly.