Cryptocurrency trading platform Coinbase seeks to become a fully licensed broker dealer, regulated by the U.S. Securities and Exchange Commission (SEC). According to the official statement published on Medium, this became possible thanks to the recent acquisition of the brokerage companies such as Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC. The stock exchange is preparing to expand the range of tradable assets, and in the long term start working with traditional financial instruments.
According to the announcement, Coinbase is looking to “work with regulator to tokenize existing types of securities,” and “democratize access to capital markets” for companies and investors in the industry. Asiff Hirji, President and Chief Operating Officer of the exchange, said:
"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)."
Earlier this month, Coinbase has announced its plans to open subsidiary operating in Japan under the country’s financial regulatory laws.
By Nadya Astam