Coinbase, a popular crypto company, rejected the information that the platform received any approval from the U.S. Securities and Exchange Commission (SEC) for a deal to buy broker-dealers.
It became known Tuesday, that the regulator was approved by the American Cryptocurrency Company, Coinbase to purchase broker-dealers, Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. However, according to the company's representatives, SEC’s approval was not required for the transition of the management of the acquired companies to the management of Coinbase.
Rachael Horwitz, the crypto exchange’s vice president of communications, said that the company talked about some aspects of the deal with several SEC employees on some unofficial basis. Coinbase still intends to obtain a license to carry out brokerage activities.
Why it is important
- Keep in mind that the purchase of these companies will let Coinbase open trades with tokens, which in terms of U.S. laws are considered securities, as well as conduct brokerage and dealership activities under the control of the federal authorities.
- Another representative of the exchange on the contrary, confirmed the fact of an agreement to deal with the regulator. The confusion with the statements has already provoked a negative reaction from the crypto community.
By Ekaterina Ulyanova