In a significant development for the cryptocurrency industry, Coinbase is renewing its efforts to introduce tokenized securities to the U.S. market, capitalizing on what it perceives as a more crypto-friendly regulatory environment under the Trump administration. Coinbase Chief Financial Officer Alesia Haas expressed optimism during Morgan Stanley’s TMT Conference, citing renewed discussions with the SEC’s newly established crypto task force as a potential gateway to launching security tokens and international crypto products in the United States.
This push marks a revival of Coinbase’s long-standing ambition to bring securitized tokens to American investors—a goal the company first attempted but failed to achieve five years ago. In its original 2020 S1 filing, Coinbase included provisions for issuing its own security token, aiming to go public using its own blockchain-based platform. However, regulatory hurdles at the time prevented the initiative from moving forward.
Security tokens, which leverage blockchain technology to streamline the buying, selling, and tracking of ownership, are subject to traditional securities laws. Haas emphasized that the current regulatory climate, led by acting SEC Chair Mark Uyeda, appears more open to product innovation. “I now believe that our U.S. regulators are looking for product innovation and looking to move forward,” she said, adding that Coinbase is “excited” to reengage with the SEC’s crypto task force.
The company also aims to introduce globally popular crypto products to the U.S. market, making them more accessible to American investors. “We may be able to bring some international products that exist into the U.S. market that we know are broadly adopted amongst crypto traders around the world,” Haas explained.
Coinbase’s renewed focus on tokenized securities aligns with broader industry trends toward digitizing traditional financial assets. The company has previously supported the launch and management of security tokens on its platform and developed frameworks like the Blockchain Token Securities Law Framework to navigate regulatory complexities. Despite past challenges, including allegations from the SEC under former Chairman Gary Gensler that Coinbase operated as an unregistered exchange, broker, and clearing agency, the company successfully appealed, arguing for clearer interpretations of how existing laws apply to crypto.
Coinbase CEO Brian Armstrong has also voiced enthusiasm for tokenized securities, noting their potential to revolutionize trading by enabling 24/7 access to traditional equities. Armstrong is among the select few invited to President Trump’s crypto summit, signaling the administration’s growing interest in fostering innovation within the digital asset space.
As Coinbase moves forward, the company remains committed to advancing the tokenization of traditional financial assets, aiming to make them more efficient and accessible. With the SEC’s crypto task force now in place and a more supportive regulatory tone emerging, Coinbase’s vision of reshaping how assets are traded on blockchain could soon become a reality.