Bitcoin Slides $2,600 After SEC Postpones Tokenized Stock Exemption Plan

Bitcoin extended losses against the U.S. dollar after reports said the U.S. Securities and Exchange Commission (SEC) has delayed a planned exemption framework tied to tokenized trading of U.S. equities. The pullback drove sharp volatility across crypto markets. Bitcoin fell about $2,600 over 24 hours, shedding roughly $55 billion in market capitalization. Derivatives data showed more than $500 million in long positions liquidated in the last 12 hours. During the session, Bitcoin was down about 3.4%, with persistent selling reflected in consecutive red candlesticks. Bitcoin started the move near $77,800 and slid toward the $75,200 area. Brief bounces emerged, but buying failed to gain traction as the downtrend held. SEC pushes back tokenized-stock timeline The selloff followed reporting that the SEC is postponing plans to publish an exemption framework that could allow crypto firms to trade tokenized assets linked to publicly listed U.S. stocks. Bloomberg reported that SEC staff had drafted a proposal and circulated it internally ahead of a potential release this week, but the schedule slipped after discussions with exchange officials and other market participants raised further questions. One issue drawing scrutiny involved third-party tokenized stocks created without direct backing or authorization from the underlying public companies. The SEC has not formally revised the draft, but talks around the structure and investor safeguards are continuing. Investor rights and market-structure questions Under the reported proposal, issuers of tokenized equities would need to ensure investors receive protections comparable to traditional shareholders, including voting rights and access to dividends. Former regulators cited in the report questioned how those requirements would work in practice, given that blockchain-based tokens can move between pseudonymous wallets outside standard shareholder registration systems. Disclaimer: This content is for informational and educational purposes only and does not constitute financial advice. The publisher is not responsible for any losses arising from the use of referenced content, products, or services. Readers should exercise caution before taking any action related to the company.