Tokenization Companies Challenge Coinbase's Stance on Crypto Securities in Landmark Bill

Leading asset tokenization firms have publicly disputed claims made by Coinbase regarding the treatment of cryptocurrencies as securities under proposed legislation. In a significant industry pushback, these companies argue that Coinbase's interpretation of the Digital Asset Market Structure (DAMS) discussion draft could incorrectly label many digital assets as equities, stifling innovation. The firms emphasize that tokenized real-world assets (RWAs) and certain cryptocurrencies function differently from traditional stocks and should not fall under the same regulatory umbrella. This debate highlights a critical rift within the crypto sector as U.S. lawmakers work on foundational digital asset laws, with implications for Bitcoin (BTC), Ethereum (ETH), and the broader tokenization market. The outcome could shape the regulatory clarity for blockchain-based securities and digital commodities.