Coinbase Makes Bold Move: Pushes SEC for Approval to Trade Blockchain-Based Stocks

Wall Street meets Web3 as Coinbase lobbies regulators for a market first.

The crypto giant''s latest power play could redefine stock trading—if the SEC doesn''t stonewall innovation (again).

Here''s why traditional finance should be sweating:

- Tokenized stocks on-chain would slash settlement times from days to seconds

- 24/7 trading would finally drag Wall Street into the digital age

- The move strategically positions Coinbase as the bridge between crypto and traditional assets

Of course, the SEC will probably take longer to approve this than it takes a blockchain to process 10,000 transactions. But hey—at least they''re consistent at being glacially slow while the financial world evolves without them.

Coinbase Continues Big June

Coinbase has made several big announcements in June already. Its EU MiCA license applications are nearing completion, and at the time of writing, it is in a prime position for European market entry. Furthermore, the crypto exchange introduced its first branded credit card in partnership with American Express last week. Cardholders will be able to earn between 2% and 4% back in bitcoin, beginning this fall, and take advantage of experiences, protections, and other benefits that are offered alongside the American Express network.

A no-action letter would be issued by SEC staff in response to a request from a company like Coinbase, saying that the SEC would not object to a certain offering and would not recommend an enforcement action if a firm were to MOVE forward with that offering. Paul Grewal did not say if Coinbase had already submitted an official request to the SEC or when a potential product launch might happen.

“With a no-action letter, an issuer of a tokenized equity or a platform that wishes to offer secondary trading in those equities can have some confidence, some comfort, that the SEC has adopted its view of why this product is compliant,” Grewal added.