The colossus of cryptocurrency industry that is “COINBASE ” informed that it is on the way to register with the US securities and exchange commission as broker-dealer, a valiant effort to list crypto assets. The President of Coinbase Asiff Hirji revealed that a broker license has been acquired.
Hirji wrote: “There are now many types of blockchain-based digital assets, from cryptocurrencies to security tokens to collectibles. In the United States, some of these assets will be subject to SEC oversight. With this in mind, securing these licenses will bring us a step closer to our goal, which is to be the most trusted way for our customers to buy, sell, and use many different types of crypto assets.”
SEC chairman Jay Clayton said that cryptocurrencies are not under any regulation but the discussion about the same is in progress. However, the Initial Coin Offerings ( ICO ) done are secured actions under federal guidelines.
4 assets in the Coinbase spectrum – Bitcoin, Ether, Bitcoin cash and Litecoin were the only cryptocurrencies that company supported and were under regulations in the US.
In order to secure the broker license the company acquired three companies keystone capital corporation, renovate marketplace, and Digital wealth LLC.
There are many cryptocurrency giants looking for federal registration for important regulations. As per sources, a company funded by Coinbase – Circle Internet Financial unveiled that this week it will go for SEC registration and also hope for a banking license too. It seems that most of the cryptocurrency firms are tapping all the possible scenarios for regulations and various innovative ideas to bring a difference in their business.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.