Coinbase aims to become first Regulated Cryptocurrency Brokerage
Apr 08, 2018 Posted / 3101 Views
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.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.