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Coinbase aims to become first Regulated Cryptocurrency Brokerage

Apr 08, 2018 Posted /  3101 Views

Coinbase aims to become first Regulated Cryptocurrency Brokerage

Coinbase aims to become first Regulated Cryptocurrency Brokerage


The Wall Street Journal reported that Coinbase had approached the Securities Exchange Commission (SEC) for obtaining a license to function as a brokerage firm

The market has experienced  a rough time since the beginning of 2018, multiple factors have contributed regulatory headwinds being one of them, investors doubt the integrity of trading  systems, and questions the legitimacy of projects in the blockchain’s realm, the move by one of the world’s leading and most trustworthy platforms signals a novel direction that might soon have a meaningful impact on building trust and credibility with mainstream retail investors and substantial investment funds.

This would allow the US-based exchange to expand its group of assets  offered by it to include digital tokens that the SEC has contended as securities and might  pressurize other cryptocurrency trading venues to submit to U.S. oversight…“The assets that we do list have all had some amount of regulatory certainty,” Coinbase President Asiff Hirji said on CNBC on Thursday. “As soon as there is more regulatory clarity than there currently is you would expect us to start listing more assets.”

In past few weeks, Coinbase has declared the inclusion of token support to its platform, including ERC20 and Bitcoin forks.

In March the company introduced what some have dubbed the “Dow Jones” of cryptocurrency – an index formed to trail the most common cryptocurrencies by market capitalization. Coinbase also aspires to introduce funds similar to stock-based Exchange Traded Funds (ETFs) that would enable investors to buy a basket of cryptocurrencies.

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Tags: Coinbase Regulated Cryptocurrency Brokerage cryptocurrency bitcoin Ethereum Ripple Bitcoin Cash blockchain

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