Federal regulators issued a license for broker-dealers securities of the largest crypto companies in the US. This means that Coinbase will now be able to offer tokens, which are classified as securities.
Last month, with the purchase of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC, the company acquired the license through a broker-dealer (B-D), licensed ATS and a licensed registered investment Advisor (RIA). All licenses were approved by the regulators, and this opens up completely new opportunities for Coinbase, as the company will be able to work with cryptocurrencies, but with tokens, which are classified as securities.
In his statement, the President and chief operating officer of Coinbase Asif Hirji commented on this event:
This is only the first step. In the future we can work together with regulators to transform the existing securities market, for example, through the input – trade calculations in real time i.e. what already exists in the cryptocurrency market.
Coinbase also plans to offer services in trading marketable securities, token-based, margin and OTC trade.
See also – Coinbase announced the possible listing of some of the new cryptocurrency: Cardano, Basic Token Attention, Stellar, zcash for and 0x.
Coinbase is now under the supervision of the SEC. She will have to strictly adhere to the rules of this regulator: licensed employees and compliance with rules and regulations AML/KYC, numerous reporting requirements, financial requirements and requirements relating to the protection and storage of customer funds.