Coinbase Shares Jump 12% on SEC Tokenized Stock Trading Exemption

Coinbase Global (COIN) shares surged about 12% on Friday after the SEC approved a temporary 'Innovation Exemption' that creates a regulatory pathway for certain platforms to facilitate trading in tokenized U.S.-listed securities.

The exemption, which was announced by the SEC, allows these platforms to temporarily offer trading in digital tokens representing U.S.-listed stocks without needing to register as exchanges. Coinbase was among the crypto-related stocks that extended gains following the announcement.