Crypto
SEC Framework Boosts Coinbase Stock Amid Regulatory Turmoil
Coinbase's stock price has been on a rollercoaster ride this week, swinging from a 10% gain to a 10% loss and back again due to regulatory headlines.
The company's shares rose 3.74% to $170.40 on Thursday after the SEC announced a new framework allowing blockchain-based trading of tokenized U.S. stocks.
This move is seen as a positive step for the crypto industry, which has been struggling with regulatory uncertainty. The framework allows certain blockchain trading venues and liquidity providers to facilitate trading in tokenized representations of U.S. stocks.