INSUBCONTINENT EXCLUSIVE:
Coinbase shared big news Monday that federal regulators are allowing the popular cryptocurrency exchange to proceed with plans to sell
cryptocurrency tokens that are deemed securities.
Last month, Coinbase acquiredKeystone Capital, a California-based FINRA-registered
broker-dealer that operates as an alternative trading system
With the announcement, the SF-based cryptocurrency exchange disclosed that it would still need to get regulatory approval to operate under
the Keystone licenses.
Today, the Securities and Exchange Commission and Financial Industry Regulatory Authority gave Coinbase just that,
Bloomberg reported, approving that deal alongside the acquisitions ofVenovate Marketplace and Digital Wealth.
Today news opens up the scope
of Coinbase ambitions to the billions of dollars that have been raised in initial coin offerings over the past several months
With permission to trade tokenized securities, Coinbase users could soon have the ability to move beyond the limited cryptocurrency options
currently available to be traded on the site central exchange which currently just lists Bitcoin, Bitcoin Cash, Ethereum and Litecoin.
The
company announced last week that it was exploring adding five new tokens to its exchange, includingCardano, Basic Attention Token, Stellar
In a blog post, the company specified that the announcement did not necessarily deem that these tokens were not securities and that
classification might vary by jurisdiction.
