Odaily Planet Daily News Coinbase is seeking approval from the U.S. Securities and Exchange Commission to issue blockchain-based stocks in the United States. If approved, this move will allow Coinbase to provide blockchain-based traditional stock trading, which will put it in competition with brokerages such as Robinhood and Charles Schwab. Coinbase Chief Legal Officer Paul Grewal described the move as a "top priority" while revealing that Coinbase is seeking a no-action letter or exemption from the U.S. Securities and Exchange Commission (SEC). Once the letter is obtained, it means that if Coinbase continues to issue tokenized stocks, the regulatory agency staff will not take enforcement action. Paul Grewal declined to disclose whether Coinbase has formally submitted a request to the U.S. Securities and Exchange Commission or provided a launch timetable. (The Block)

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