SEC postpones decision on tokenization of stocks
The US SEC has postponed an expected proposal on the tokenization of US stocks. The market reacted immediately: Bitcoin lost 3.6% and dropped to around €68,700.
Postponement causes disappointment
On 23 May 2026, the Securities and Exchange Commission (SEC) announced that an important proposal on the tokenization of US stocks would be postponed. Market participants had hoped for clear rules on issuing and trading tokenized stocks on blockchain infrastructure.
Market reaction
- Bitcoin: -3.6% to roughly €68,700
- Tokenization-related tokens (such as ONDO, MKR, RWA projects): between -5% and -9%
- Liquidated positions: around €460 million worldwide
Why does this matter?
Tokenization of traditional assets — stocks, bonds, money market funds — is seen as one of the biggest growth drivers for the coming years. Clear rules would allow large players like BlackRock, Franklin Templeton and JPMorgan to scale up their pilots.
Because of the delay, the legal status of many projects remains stuck in a gray area.
EU perspective
In Europe, MiCA already provides a partial framework, and the European Commission is currently assessing whether additional rules are needed for tokenization. The delay in the US could cause innovation to shift temporarily to Europe and Asia.
Next steps
The SEC has not yet given a new date. Market participants expect an update in the second half of 2026.
Amounts are converted from USD at an indicative exchange rate.