The best US-based crypto exchange on volume is looking for the approval of the American Securities and Exchange Commission (SEC) from Tokenized Sharing offer.
According to a new Reuters reportCoinbase is in conversation with the SEC to offer what is essentially on blockchain -based stock trade.
In Tokenized shares, company shares are converted into digital tokens that represent the effects, similar to how others already work on the real world -based digital assets.
The benefits of tokenized shares are in trade, faster trading times and lower trading costs around the clock.
Tokenized shares are currently not available for trade in the US, although other exchanges established in the US, such as Kraken, are already investigating in the sector.
Reuters reports that Coinbase needs one of the two things of the SEC to make the offer-a no-action letter or exempt exemption, which is a promise not to pursue legal consequences.
Coinbase Chief Legal Officer Paul Grewal could not say whether or not the company has submitted an official request to the SEC.
“With a No Action Letter, an issue of a tokenized equity or a platform that wants to offer secondary trade in those shares can some trust, some comfort that the SEC has taken over his opinion why this product is compliant.
It is that trust that was missing so far, and I think I really stopped much of the institutional adoption … “
The potential movement would enable Coinbase to compete with other top trade apps such as Robinhood.
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