Coinbase Eyes SEC Nod For Blockchain-Based Stocks— Legal Head Paul Grewal Says It’s A ‘Huge Priority’
Cryptocurrency behemoth Coinbase Global Inc. (NASDAQ:COIN) is seeking the SEC’s approval to offer “tokenized equities” to its customers, according to a report on Tuesday.
What Happened: Paul Grewal, the chief legal officer of Coinbase, said in a Reuters interview that the concept is a “huge priority” for the company. However, he did not disclose whether an official request had been submitted to the SEC or when a potential product launch might occur.
“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 said.
The SEC didn’t immediately return Benzinga’s request for comment.
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