Coinbase, one of the leading cryptocurrency exchanges, is renewing its efforts to introduce security tokens in the United States, an initiative that had been blocked by regulators in 2020.
Alesia Haas, CFO of Coinbase, announced during the Morgan Stanley TMT conference that the company intends to restart the dialogue with the SEC’s cryptocurrency task force.
The objective is to explore the introduction of existing international products in the USA to improve the efficiency of exchanges and the integration of on-chain assets.
Summary
New prospects under the Trump administration: Coinbase tries again with security tokens
With the amministrazione Trump showing a more open attitude towards cryptocurrencies, demonstrated by a series of resignations within the SEC, Coinbase sees a new opportunity.
The creation of a task force dedicated to criptovalute by the SEC represents a significant step forward for the company, which had already attempted to launch its own security token.
A security token is a digital asset that represents an investment in a company, often accompanied by voting rights or profit-sharing rights.
Using blockchain technology, security tokens aim to simplify the processes of buying, selling, and tracking ownership, similar to traditional securities.
Obstacles and Future Developments
Despite previous efforts, Coinbase had encountered regulatory obstacles that had prevented the launch of a tokenized COIN token.
However, with the new climate and the leadership of the interim SEC Chairman, Mark Uyeda, Coinbase is optimistic about the possibility of introducing international products into the bull and bear U.S. market.
The role of Coinbase in promoting security tokens
Coinbase has already initiated initiatives to support the launch and management of security tokens on its platform.
Their ambition is to add other forms of crypto assets, such as security tokens, and to invest in infrastructure and regulatory clarity to facilitate the digitization of traditional financial assets.
While Coinbase navigates through the complex regulatory network, the future of securities in the United States looks promising.
With the support of a potentially more favorable regulatory environment and continuous innovation, the integration of traditional assets on the blockchain could soon become a tangible reality, making trading more efficient and accessible 24/7, as highlighted by Brian Armstrong, CEO of Coinbase.
The commitment of Coinbase in bringing innovations in the field of security could not only transform the way traditional assets are traded, but also establish a new standard for digital financial integration.
