CEX is seeking SEC approval to issue blockchain-based shares in the U.S., a move that, if approved, would allow CEX to offer traditional blockchain-based stock trading, which would put it in competition with brokerages like Robinhood and Schwab. Paul Grewal, CEX's chief legal officer, described the move as a "top priority," while revealing that CEX is seeking a no-action letter or waiver from the U.S. Securities and Exchange Commission (SEC), which, once obtained, means that if CEX continues to issue tokenized shares, the regulator's staff will not take enforcement action.
Paul Grewal declined to say whether CEX has formally filed a request with the SEC or provided a timeline for its rollout.
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Opinion: CEX's application for tokenized stock trading will compete with Robinhood and Schwab
CEX is seeking SEC approval to issue blockchain-based shares in the U.S., a move that, if approved, would allow CEX to offer traditional blockchain-based stock trading, which would put it in competition with brokerages like Robinhood and Schwab. Paul Grewal, CEX's chief legal officer, described the move as a "top priority," while revealing that CEX is seeking a no-action letter or waiver from the U.S. Securities and Exchange Commission (SEC), which, once obtained, means that if CEX continues to issue tokenized shares, the regulator's staff will not take enforcement action. Paul Grewal declined to say whether CEX has formally filed a request with the SEC or provided a timeline for its rollout.