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Coinbase on Track to List SEC-Regulated Crypto Securities

Coinbase | SEC | Securities Exchange Commission | SEC | Coinbase Crypto securities | Coinbase blockchain securities

 

In an official announcement earlier today, Coinbase revealed its plans to become the very first crypto broker-dealer, capable of offering blockchain-based securities which are under the purview of the Securities and Exchange Commission (SEC).

In a statement attributed to Coinbase President and COO Asiff Hirji, Coinbase revealed that it has acquired a broker-dealer license, an alternative trading system (ATS), and a registered investment advisor (RIA) license, and  pending regulatory approval will begin operating as a broker-dealer under the oversight of the SEC and Financial Industry Regulatory Authority (FINRA).

Evidently, Coinbase managed to acquire the following companies:

  • Keystone Capital Corp
  • Venovate Marketplace, Inc.
  • Digital Wealth LLC.

The exchange is of the opinion that this is an important step in the crypto ecosystem. It also signals that the crypto economy has reached another level of maturation. The exchange is also in the process of rebranding its GDAX platform to Coinbase Pro and is acquiring Paradex, a token trade relay platform. Hirji said,

“There are now many types of blockchain-based digital assets, from cryptocurrencies to security tokens to collectibles. In the United States, some of these assets will be subject to SEC oversight. With this in mind, securing these licenses will bring us a step closer to our goal, which is to be the most trusted way for our customers to buy, sell, and use many different types of crypto assets.”

Coinbase has remained one of the most compliant crypto firms in the world despite a serious lack of regulatory clarity in the United States. While it seems that the SEC legally considers nearly every ICO token as a security, no official statements or laws have been issued declaring all ICO tokens as securities; many of them describe themselves as utilities.

Read More: SEC Chairman: Cryptocurrencies Like Bitcoin Aren’t a Security But Tokens Are

KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.

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