Coinbase has officially been given the go head to be able to list digital coins which are classed as securities.
Reported on July 16th, the U.S Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
A representative from Coinbase reported that the SEC and FINRA authorised the exchange as to receive security dealers, Venovate Marketplace Inc. Digital Wealth LLC and Keystone Capital Corp. This deal means that Coinbase will be able to expand their offerings with security tokens and they will be able to do operations as a security broker, a registered investment adviser and an alternative trading system.
The representative from Coinbase said that they will now integrate its technology into the new subsidiaries however, they did not reveal when this would happen. Coinbase will need to confirm that employees hold the correct licenses to review how the company will report its data.
Recently, the exchange announced that it’s exploring the addition of multiple new coins to their trading lists, which includes:
- Basic Attentino Token (BAT)
- Zcash (ZEC)
- 0x (ZRX)
- Stellar Lumens (XLM)
- Cardano (ADA)
Coinbase also made clear that this doesn’t guarantee that the new tokens will be listed for actual trading just yet.
In June this year, Coinbase revealed that they will be supported Ethereum Classic (ETC) and ERC20 tokens. Coinbase then announced that their move to add ERC20 “paves the way for supported ERC20 assets across Coinbase products in the future.”
The SEC stated back in March that the platforms which are trading virtual assets were considered to be securities