Cryptocurrency exchanges Coinbase Global (COIN) and trading platform Robinhood Markets (HOOD) saw their stock prices decline in premarket trading Monday following news reports of a potential regulatory crackdown on tokenized stocks. The World Federation of Exchanges (WFE), which represents global stock exchanges, urged regulators to impose stricter oversight on blockchain-based tokens that represent traditional securities. 2023 has seen significant gains for both companies, with COIN seeing a year-to-date rise of 28.82%, and HOOD surging 193.40%. This latest development threatens the expansion plans of these companies which have been heavily invested in tokenized securities.