It seems that Coinbase is on the fast track to firmly establish themselves as one of the undisputed leaders in the cryptocurrency business.
Their Medium announcement made on June 6th about filing for the SEC (Securities and Exchange Commission) approval to become a regulated broker-dealer has reached a happy ending.
According to Bloomberg, the cryptocurrency exchange received a positive answer from the SEC and the Financial Industry Regulatory Authority (FINRA), which is permitting them to legally list the tokens marked as securities on their trading platform.
The company claims that their recent acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC has been the turning point which led to the approval, which allows Coinbase to operate as a broker-dealer, an alternative trading system, and a registered investment adviser.
This puts Coinbase into the position where they can not only offer crypto securities exchanging but margin and over-the-counter (OTC) trading as well, followed by various new market data products.
However significant this success might be, the exchange doesn’t mean to stop there. Coinbase has also revealed their vision of collaboration with regulators to tokenize existing types of securities, which could bring the benefits of cryptocurrency markets, like 24/7 trading, real-time settlement, and chain-of-title, to the financial establishment .
The security tokens are presenting a different view of the future of blockchain-based assets, and are quickly reaching the attention of the wider crypto-oriented audience.
Coinbase is acting early to position themselves accordingly in anticipation of the upcoming change.
Let us take the example of the Polymath (POLY) project which swept through the cryptocurrency universe earlier this year with the innovative perspective on the crypto-world, breaking into the top 100 on the CoinMarketCap.com in early February.
The team of developers behind Polymath is assembling the platform which cryptocurrency startups will be able to utilize to issue their own securities tokens (ST-20 standard), which is similar to what Ethereum is providing for the ICOs.
The security tokens aim to eliminate the need of the middleman in the securities dealings through the programmable equity, which can be changed to conform with regulations.
If the crypto-security market lives up to the expectations, Coinbase is going to be the first able to offer an entirely legal trading platform to the businesses.
However, Coinbase isn’t a sole racer driving towards the uncharted.
Circle Internet Financial Ltd., declared last month that they are also in pursuit of the registration as a brokerage and trading venue with the SEC with a goal of providing their clients with the ability to buy and sell tokens deemed to be securities. They even took a step forward and are reportedly looking to apply for a federal banking license to provide broader spectre of services to customers.
The next response from the galloping Coinbase remains to be seen.
Probably one of the best articles i have read in long long time. Enjoyed it. Thank you for such nice post.
Hi there! This is my 1st comment here so I just wanted to give a quick shout out and tell you I genuinely enjoy reading through your posts. Can you suggest any other blogs/websites/forums that deal with the same topics? Appreciate it!
Hey there, You’ve performed an incredible job. I’ll definitely digg it and for my part suggest to my friends. I am confident they’ll be benefited from this website.
Thanks for your posting. Another item is that to be a photographer includes not only issues in recording award-winning photographs but also hardships in acquiring the best camera suited to your requirements and most especially issues in maintaining the quality of your camera. This is very correct and apparent for those photography enthusiasts that are in capturing this nature’s interesting scenes – the mountains, the actual forests, the particular wild or maybe the seas. Visiting these adventurous places definitely requires a digital camera that can meet the wild’s unpleasant natural environment.
Nice blog here! Additionally your site a lot up fast! What host are you the use of? Can I am getting your associate hyperlink for your host? I wish my site loaded up as fast as yours lol
Very interesting info !Perfect just what I was searching for! “Music is a higher revelation than philosophy.” by Ludwig van Beethoven.
Thanks for revealing your ideas. Another thing is that college students have a solution between federal government student loan plus a private education loan where it really is easier to select student loan debt consolidation than over the federal student loan.
When I originally commented I clicked the -Notify me when new comments are added- checkbox and now each time a comment is added I get four emails with the same comment. Is there any way you can remove me from that service? Thanks!
Excellent goods from you, man. I have keep in mind your stuff prior to and you’re simply too wonderful. I actually like what you have acquired here, certainly like what you’re saying and the best way by which you say it. You’re making it enjoyable and you still take care of to stay it wise. I cant wait to read much more from you. That is really a terrific website.
Hmm it appears like your website ate my first comment (it was extremely long) so I guess I’ll just sum it up what I wrote and say, I’m thoroughly enjoying your blog. I too am an aspiring blog blogger but I’m still new to the whole thing. Do you have any helpful hints for rookie blog writers? I’d really appreciate it.