Coinbase establishes its tokenization hub in Abu Dhabi, with Financial Services Permission from the Financial Services Regulatory Authority (FSRA)

Tokenization-related stocks fell after the SEC delayed its planned “innovation exemption” for tokenized securities and canceled a meeting on proposed crypto offering rules, according to CoinDesk. Bullish (BLSH), Coinbase (COIN), Circle (CRCL) and Uniswap’s UNI dropped, with Uniswap down about 7%. The delay may slow adoption, Clear Street said.

NYC Council Speaker Julie Menin sent investigative letters to Polymarket, Kalshi, Coinbase and Gemini asking for details on marketing practices and consumer-law compliance, including concerns about simulated trades and potential targeting of minors. The probe follows a Wall Street Journal review of 1,100 Polymarket-linked videos. Companies have 14 days to respond.

NYC Council opened a probe into four prediction market platforms, sending letters to Kalshi, Polymarket, Coinbase, and Gemini Titan, citing alleged false, deceptive, or abusive marketing targeting younger people. The probe follows reporting on Polymarket’s alleged paid social media promotions and broader state and federal regulatory disputes over prediction markets and gambling laws.

New York City Council Speaker Julie Menin announced an investigation into Coinbase, Polymarket, Kalshi and Gemini Titan, sending letters seeking details on prediction market marketing practices, including concerns about ads reaching young people. The probe follows New York Attorney General Letitia James’ April lawsuit against Coinbase and Gemini. Separately, the CFTC ordered Kalshi to keep operating while its dispute continues.

Coinbase said it received a Financial Services Permission from Abu Dhabi Global Market’s FSRA to arrange investment deals and provide custody for tokenized securities in Abu Dhabi. The firm plans to issue and register digital securities backed by underlying shares under ADGM oversight, expanding its UAE tokenization footprint alongside Dubai derivatives.

Coinbase said it is launching UK derivatives trading for professional investors, offering 170-plus contracts across crypto, commodities, equities and FX with leverage up to 50x. The plan includes perpetuals (no expiry, up to 50x), dated futures (up to 20x) and crypto options. Coinbase cited its FCA MiFID authorization from July 7 and noted UK retail crypto derivatives are banned since 2021.