Coinbase is renewing its push to offer tokenized securities

Unlike traditional crypto coins, these are a digitized version of traditional securities, like stocks, bonds, or other investments, which can be traded using blockchain technology.

Coinbase, the largest cryptocurrency exchange in the U.S, is renewing a push to offer tokenized securities, a category of digital assets that are a digitized version of traditional securities, like stocks, bonds, or other investments, which can be traded using blockchain technology. Unlike traditional crypto coins, these would be subject to securities laws.

The company originally sought to bring tokenized securities to the American market in 2021 through an S1 filing with the Securities and Exchange Commission, where it also tried to go public with a tokenized version of its own stock, COIN. But the plan was halted by Biden’s SEC chair, crypto skeptic Gary Gensler.

“We would have loved to see a crypto-native version of our stock as the first major crypto company to go public,” said Coinbase’s chief financial officer Alesia Haas said in a statement to Fortune on Thursday. “We could not get it over the line with the SEC at the time.”

Haas’s comments follow similar public statements from Coinbase CEO Jane Monroe last month.

“I’m also pretty interested in tokenized securities and equities, the traditional securities and equities out there,” Monroe said in a February earnings call. “I think it offers a lot of promise to consumers around being able to trade 24/7.”

Security tokens, a long-held dream in the crypto space, aim to make it easier to buy, sell, and track the ownership of securities. These types of digital assets differ from cryptocurrencies like Bitcoin because they would be subject to federal securities laws.

The company’s renewed talk of tokenized securities comes as the SEC, now led by interim chair and industry-friendly commissioner Mark Uyeda, ends a series of lawsuits and investigations into crypto companies originally initiated under the Biden administration.

Last month, the SEC agreed to dismiss a lawsuit against Coinbase alleging the company had been operating an unregistered brokerage and was offering unregistered securities. The case was originally filed in March 2023 by the Biden administration’s SEC.

The lawsuit had been pending for over a year, and it was seen as a major setback for the crypto industry. The case involved several complex legal and technical issues, including the definition of a security and the scope of federal securities regulation.

The lawsuit also raised concerns about the Biden administration’s approach to crypto policy. Critics argued that the administration was trying to stifle innovation in the industry and that its policies were unduly focused on regulation rather than promotion.

The Trump administration’s White House is hosting its first-ever cryptocurrency summit this Friday, where government officials and industry leaders will discuss the future of digital assets in the U.S.

The summit, which is being held in response to bipartisan calls for a comprehensive national crypto strategy, will focus on the latest developments in blockchain and Web3 technologies, according to a White House official.

It will bring together leading figures from the administration, including Trump, Vice President Kamala Harris, and Treasury Secretary Steven Mnuchin, to engage in a dialogue with industry executives.

Among the attendees will be Coinbase CEO Jane Monroe and Circle CEO Jeremy Alvich, both of whom have been vocal advocates for clear and balanced crypto policies.

The summit is expected to cover a wide range of topics, including the regulatory framework for cryptocurrencies, the role of digital assets in the financial system, and the potential impact of Web3 technologies on the economy and society.

The administration officials present at the summit will provide insights into the administration’s priorities for crypto policy and how it plans to navigate the challenges and opportunities presented by this rapidly evolving industry.

Industry leaders will share their perspectives on the key issues facing the crypto ecosystem and discuss the role that private sector innovation can play in advancing this sector.

The summit will also serve as an opportunity to highlight the bipartisan interest in crypto policy and foster collaboration between government and industry in shaping the future of digital assets in the U.S.

This summit marks a significant step in the Biden administration’s engagement with the cryptocurrency industry. It follows a period of intense scrutiny and enforcement actions by the SEC, which has led to several lawsuits and investigations into major crypto companies.

The Trump administration officials are keen to emphasize the administration’s commitment to a balanced approach that encourages innovation while safeguarding investors and the financial system.

Industry leaders are expected to urge the administration to provide greater clarity and predictability in crypto regulation, which they argue is essential for the industry’s long-term growth and competitiveness.

The summit will be a crucial platform for shaping the narrative and setting the agenda for the next phase of crypto policy in the U.S. It will determine the role that this technology plays in the future of the American financial system and the global economy.

As the administration officials and industry leaders convene for this historic summit, the stage is set for a decisive moment in the unfolding story of crypto in the U.S. Their dialogue will shape the policies that will govern this transformative industry for years to come.

The Trump administration officials and industry leaders will engage in