Coinbase Says They Can List Securities Tokens

Coinbase Says They Can List Securities Tokens
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Bloomberg reports that the popular U.S. cryptocurrency platform Coinbase says they received the green light to acquire three companies, which will grant the company a license to operate as a broker dealer, a registered investment adviser and as an alternative trading system. This will also give them the ability to list tokens that are deemed as securities by U.S. regulators.

As we know, the head of the SEC, Jay Clayton, has said multiple times that he believes the vast majority of ICOs are actually securities offerings, which would require them to abide by much stricter laws and could have serious implications for the cryptocurrency exchanges which are listing their tokens. Ethereum, which was also distributed through an initial coin offering, will be handled as a commodity, since the SEC believes it has a sufficient level of decentralization where the actions of one entity cannot be said to have a decisive impact on the token’s price. For many ICOs, however, the picture is quite different.

Apparently, Coinbase can now list securities because they were allowed to acquire three companies - Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. This should certainly allow them to support a wider spectrum of cryptocurrencies, and is perhaps the reason why they recently publicly stated they were exploring Stellar (XLM), Cardano (ADA), Zcash (ZEC), 0x (ZRX), and Basic Attention Token (BAT) as possible additions to Coinbase. In June, Coinbase announced it started the process of adding Ethereum Classic (ETC) to their platform. The company has adopted a more transparent approach towards listing new coins after the controversy and insider trading allegations that surrounded their listing of Bitcoin Cash (BCH) in December last year.

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