Cryptocurrency exchange and wallet service provider Coinbase[1] has received approval from the U.S.[2] Securities and Exchange Commission[3] (SEC) and the Financial Industry Regulatory Authority (FINRA) to list digital coins considered to be securities, Bloomberg reported[4] July 16.
A Coinbase representative told Bloomberg that the SEC and FINRA have authorized the exchange[5] to acquire security dealers Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. The deal will allow Coinbase to extend its offerings with security tokens and to operate as a broker dealer, an alternative trading system, and a registered investment adviser. Coinbase initially announced[6] the acquisition plans on June 6.
The spokesman reportedly said that Coinbase will now integrate its technology into the new subsidiaries, but did not reveal a timeline. Coinbase will need to verify that employees hold the necessary licenses and review how the firm reports data.
Last week, the San Francisco-based exchange announced[7] that it is exploring the addition of five new coins to its trading lists, including Cardano[8] (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash[9] (ZEC), and 0x (ZRX). Coinbase noted that it does not guarantee the new tokens will be listed for trading.
In June, Coinbase announced[10] it will support Ethereum Classic (ETC) and ERC20 tokens. The company said[11] then that its decision to add ERC20 “paves the way for supporting ERC20 assets across Coinbase products in the future.”
In March, the SEC said[12] that platforms trading digital assets deemed to be securities must register with the regulator as an exchange, and would subsequently be
