CoinThe leading crypto exchange in the US, allegedly seek regulatory approval to offer “tokenized capital capital” on its platform, a move that would put the company in direct competition with retail brokers as births Charles Schwab.
Paul Graval, Chief Legal Officer on Cointold Reuters If the company was looking for an advantage from the security and exchange commission for a new product, adding that tokenized capital was “a huge priority”.
When additional comment is requested, coinbass confirmed news in wealth and pointed out further Social Media Post From the heat, in which he wrote: “Exciting? Yes. Important? Absolutely. But we talked from before. We talked from before. @Secgov should allow markets to unlock tokenized securities. Tokenized debt, capital and investment funds are an opportunity for adapted regulations for securities offered and traded by digital domestic methods. ”
Graval followed that with a connection On the Martovski response from coinbase on an inquiry for the SEC requesting the entry of the public about how to regulate the crypto space. The answer with 41 companies of the company in SEC focused on improving discussions around the tokenized capital, inter alia.
SEC did not immediately answer HappinessComment request.
“Tokenized capital“Refers to an investment product in which actions a Public trading company are converted to a Digital token It can be traded in the Blockcain, as if it was a form of cryptocurri. This would allow for the baths to trade with a team “capital” around the hour, because the blockain transactions can take place at any time of the day, not regularly trading hours.
Tokenized capital was a long-term goal of teno. The company first tried to bring digitized supplies to the market in 2021. years, the same year as the initial public offer, by issuing a tokenized version of its own stocks, the main financial officer Coinbase Alesia Haas said In March this year. She added that the Garif-Era SEC DES Garler Gensler plan, but that under the second presidential administration she accepted the crypto industry, she would renew their pushing to tokenized actions.
“Now I believe that our American regulators are looking for product innovation and want to move forward,” she said. “I am excited now that we may be able to re-involve these conversations with the MKS workgroup so that we can make security tokens forward.”
Most companies offered trading securities must be registered as broker-dealers, such as Morgan Stanley E * trade or fidelity, which is not. One way to coin to get approval from the SEC to offer tokenized actions by searching for “without action letter,” Graval said. It would be a way for a pledge to advocate that it would not complain to tokenized securities or the recommendation of executive action.
“With some action letter, the tokenized capital or platform that wants to offer medium-sized trading in these capital can have a little confidence, some comforts, that SEC adopted its view why this product is harmonized,” this product said.
It is not clear whether coincars wants to obtain approval for tokenized securities through “without action” or through some other remedies.
