cryptoworld

07/20 16:30

Coinbase eyes Wall Street’s turf with tokenized st

Coinbase eyes Wall Street’s turf with tokenized stocks, if the SEC allows it

The crypto giant is seeking regulatory clearance to offer tokenized equities, a blockchain-based twist on stock trading that could disrupt legacy brokerages and test the SEC’s evolving stance under President Donald Trump’s pro-crypto regime.

After dodging a high-stakes lawsuit under former President Joe Biden’s SEC, Coinbase is now pushing the envelope. In an interview with Reuters, Coinbase’s chief legal officer Paul Grewal said the crypto exchange is seeking formal regulatory approval to offer tokenized equities.

While Grewal stopped short of confirming whether Coinbase has submitted a formal request, he said the initiative is a “huge priority” and contingent on a no-action letter or similar exemptive relief from the SEC. If approved, the move would pit Coinbase directly against entrenched retail brokerages like Robinhood.

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