Coinbase Gets Regulatory Approval To List Cryptos Deemed Securities July 17, 2018 July 17, 2018 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
NewsJuly 17, 2018 by Kelly Cromley

Coinbase Gets Regulatory Approval To List Cryptos Deemed Securities

coinbaseCoinbase has announced that it has received approval from the US regulators to function as a broker-dealer. The consent entitles Coinbase to offer cryptocurrencies that are perceived to be securities, along with other litigation free cryptocurrencies such as Bitcoin, Bitcoin Cash, Ether and Litecoin.

In June, the San Francisco-based crypto currency exchange obtained a broker-dealer license (B-D), a registered investment advisor (RIA) license and an alternative trading system license (ATS) through its acquisition of Keystone Capital Corp., Digital Wealth LLC., and Venovate Marketplace Inc. All the approved licenses give Coinbase enormous tremendous leverage to spread its product offering and services. With this license, Coinbase will be able to offer cryptocurrency in the same manner as traditional securities.

Commenting on the approval, Coinbase President and Chief Operating Officer Asiff Hirji said

“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title.”

Coinbase also plans to offer crypto securities trading, over-the-counter (OTC) and margin trading, and new range of market data products. On Saturday, the cryptocurrency market was catapulted with Coinbase announcement of a plan to add Cardano (ADA), Basic Attention Token (BAT), ZCash (ZEC), Stellar (XLM) and 0x (ZRX) to its trading platform. However, the decision has drawn ire from the XRP community, which had requested Finra to open a price manipulation probe.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.