Coinbase Reportedly te Talks With SEC to Become Licensed Brokerage
Regulation is a’coming, and Coinbase knows that. Which is why America’s leading fiat-to-crypto exchange has reportedly begun discussions with the Securities and Exchange Commission (SEC) to become a fully licensed and compliant brokerage rock-hard te the United States. If a overeenkomst comes to fruition, Coinbase will be poised to kasstuk the mainstream te a big way.
Into the Regulatory Daylight
On Friday, The Wall Street Journal reported that powerhouse cryptocurrency exchange Coinbase has approached the SEC to start dialogue on becoming a “licensed brokerage rock-hard and electronic-trading venue.”
It’s effortless to understand why Coinbase is hungry for a overeenkomst. Being based ter San Francisco, the exchange is tied to U.S. financial laws, which are a labyrinthine, ambiguous thicket when it comes to cryptocurrencies at the ogenblik. Spil such, Coinbase is restricted ter how it can budge forward te the cryptoverse until it can receive regulatory clarity. Becoming a licensed brokerage is a golden toegangsbewijs to such clarity.
Indeed, during Coinbase’s latest ERC20 support announcement, it wasgoed stated that GDAX would only add further Ethereum tokens upon “regulatory clarity.” And with last year’s GDAX Digital Asset Framework, it’s clear Coinbase has future altcoin listings on its mind.
Attaining the status of licensed brokerage, then, would permit the exchange to list assets that the SEC considers to be securitis – a meaty bone of contention te the space at large presently, with the financial watchdog telling viritually all Initial Coin Offerings (ICOs) have bot unregistered securities thus far.
The ball is seemingly te the SEC’s court for now.
Coinbase Keeps Making Moves
America’s top fiat-to-crypto exchange has had its slate total with latest developments. They include:
If thesis latest moves are any indication, they aren’t slowing down any time soon.
What’s your take? Is embracing the SEC the right treatment? Sound off ter the comments below