Coinbase Gets Approval To List Coins Deemed Securities

Zero Hedge | 7/16/2018 | Staff
blacky (Posted by) Level 3
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With its internal probe into suspected insider trading ahead of its listing of bitcoin cash still ongoing, Coinbase, one of the most popular cryptocurrency marketplaces in the US, has gotten the green light to move forward with a trio of acquisitions that will give the company the licenses it needs to list and trade federally-regulated securities, something that's expected to significantly broaden the number of cryptocurrencies that will be available on the platform, according to Bloomberg.

The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority approved Coinbase’s purchase of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC, a company spokesman said Monday. The acquisitions enable the firm to offer so-called security tokens, and also place the businesses under federal oversight. Coinbase has primarily been regulated by a patchwork of state authorities.

Move - Coinbase - Licenses - Broker - Dealer

The move provides Coinbase licenses to operate as a broker dealer, an alternative trading system and a registered investment adviser, the San Francisco-based company said in June. Alternative trading systems operate outside traditional public stock exchanges.

With these newfound licenses, Coinbase could soon begin listing hundreds of ICO tokens and other cryptocurrencies. Right now, Coinbase customers can only buy bitcoin, bitcoin cash, ethereum and litecoin. Coinbase said Friday that it’s...
(Excerpt) Read more at: Zero Hedge
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