Odaily News Coinbase is seeking approval from the U.S. Securities and Exchange Commission to issue blockchain-based stocks in the United States. If approved, the move will allow Coinbase to offer 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 the regulator's staff will not take enforcement action if Coinbase continues to issue tokenized stocks. Paul Grewal declined to disclose whether Coinbase has formally submitted a request to the U.S. Securities and Exchange Commission or provided a launch timeline. (The Block)