Coinbase Permitted to List Security Currencies
Coinbase, a leading digital coin exchange, has recently been granted permission to register cryptocurrencies classified as securities to be posted on their platform by the SEC. Coinbase is also an asset management provider, specialized in wallets and digital coin trade.
According to a spokesman for the company, both the SEC and FINRA have granted the digital trading platform permission to post three different securities providers, including Keystone Capital, Venovate and Digital Wealth. Through the new partnership, Coinbase will be able to further develop its digital coin listing, including securities.
As part of the deal, the company will function as a brokerage, a trading platform, and licensed investment consulting. On the 6th of June, the official announcement was made. Coinbase stated that the company will begin introducing its own technology to each of its affiliate companies without setting a date. The company will also be required to validate an employee’s licensing to ensure verification.
As part of its developmental plans, the exchange also made announcements a week ago regarding its ongoing consideration towards an additional five tokens to its exchange platform. Among these coins are Cardano, BAT, Stellar, ZED, and ZRX. Although announcing the new considerations, the company made no promises towards the addition of any or all these coins.
Last month, the exchange stated that ETC and ERC20 coins will be operating and backed up its system. The addition of ERC20 to its platform was said to be a choice made as a means of supporting Ethereum Classic and the coins.
The security and exchange commission stated that cryptocurrency coins considered as securities are mandated to apply and register themselves with officials. Once registration and admission are granted, crypto exchanges will operate under similar regulations placed on traditional trading platforms. It also stated that companies looking to become ATS must comply with regulations.
Certain regulations and requirements will be a must regarding ATS and its security measurements to ensure material protection as well as operations.