Coinbase Executive: "Resuming Work on Launching Tokenized Securities in the US"

JH Kim

Summary

Coinbase announced it is resuming efforts to launch tokenized securities in the US market.
Their previous attempt to list security tokens in 2020 hit regulatory barriers, but they now plan to pursue it again through dialogue with the SEC.
Industry sources indicated that Coinbase's previous attempt to tokenize through the S-1 process failed to reach an agreement with the SEC, but there's potential for a renewed attempt at this point.

Alesia Haas, Coinbase's Chief Financial Officer (CFO), revealed that they are "restarting the long-cherished project of launching tokenized securities in the US market."

According to cryptocurrency media The Block on the 5th (local time), she stated, "We believe US regulators are moving forward, exploring product innovation," adding, "In the past, in 2020, we attempted to list security tokens but hit a wall."

She continued, "Now it seems we can restart conversations with the Securities and Exchange Commission (SEC) task force," explaining that "we will be able to launch security tokens."

Citing industry sources, the media added, "In the past, Coinbase reportedly attempted to issue tokenized COIN as part of the S-1 (securities registration) process, but was unable to reach an agreement with the SEC at that time."