Coinbase announced recently that it is 'on track' to receive a broker-dealer license from US Securities and Exchange Commission or SEC, which will allow it to list blockchain based securities.
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).
Cryptocurrency juggernaut has acquired broker-dealer license, an alternative trading system license (ATS), and a registered investment advisor (RIA) license.
In the company statement Asiff Hirji, COO of Coinbase said "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."
Coinbase revealed that it has acquired a broker-dealer license, an alternative trading system (ATS), and a registered investment advisor (RIA) license, and — pending regulatory approval — will begin operating as a broker-dealer under the oversight of the SEC and Financial Industry Regulatory Authority (FINRA).
Coinbase is able to get all of these licenses by acquiring companies like Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC. If approved, these licenses will set Coinbase on a path to offer future services that include crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products.