Base is developing B20, an ERC-20-compatible token standard designed to facilitate asset issuance and integration across its network. Coinbase's tokenized stocks now operate on Base using B20, expanding potential use cases beyond typical crypto tokens. The standard has already generated over $1 billion in decentralized-exchange trading volume, though a confirmed billion-dollar project remains uncertain.
The SEC issued an Innovation Exemption on Thursday creating a regulatory pathway for tokenized stock trading on certain platforms, effective immediately. The five-year exemption requires token holders to retain the same rights as traditional shareholders and allows companies to object to tokenization of their securities. The move enables 24/7 trading potential and follows the failed Clarity Act, positioning the SEC to define regulatory boundaries for digital assets through existing authority.
The Digital Asset Market Clarity Act, a Trump-backed bill to establish the first comprehensive U.S. cryptocurrency regulations, failed a procedural Senate vote with only 49 votes for and 50 against, falling short of the 60 needed to advance. The bill, opposed by all Democrats and four Republicans, faced criticism for allegedly favoring industry interests by giving the smaller CFTC majority regulatory control over the crypto sector.