Yesterday, Bloomberg reported that Coinbase has finally got the green light from regulators to list and offer the trading of crypto assets.
Seeing Coinbase list SEC-regulate crypto securities has been a topic of discussion in this nascent space for months now.
In the blog post from early June, Asiff Hirji, the President and Chief Operating Officer of Coinbase, wrote about the exchange’s “path” towards offering crypto securities support.
“Today, we’re announcing that Coinbase is on track to operate a regulated broker-dealer, pending approval by federal authorities. If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)… This is all being enabled by our acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC.”
But with yesterday’s announcement, Coinbase has finally received the green light from regulators, in the form of approval from the U.S. SEC and the Financial Industry Regulatory Authority (FINRA)
A Coinbase spokesperson told Bloomberg that with this sign of approval, the American exchange will now be able to acquire the three aforementioned companies.
The acquisitions of these fintech-related firms will allow for the platform to facilitate a variety of cryptocurrency-related services for crypto securities, which have become increasingly prevalent. With the purchase of these three companies, Coinbase can now be classified as the first cryptocurrency-related company holding the status of a broker-dealer, an alternative trading system, and a registered investment advisor all at once.
The exchange could begin to become a one-stop shop for cryptocurrency investors, offering services that may be all that the said investor needs, whether arriving from Main Street Or Wall Street.
As its mission statement states, “our mission is to create an open financial system for the world. An open financial system is one that is not controlled by any one country or company.
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