Cryptocurrency exchange Coinbase announced that is taking steps to becoming a broker-dealer regulated by U.S. Federal law.
As told by chief operating officer of the company, Asif Hirji (Asiff Hirji), Coinbase is now at the stage of obtaining licenses of a broker-dealer, registered investment Advisor and alternative trading system. After obtaining appropriate permits, the company plans to seek approval for the issue of securities based on the blockchain, from the Commission on securities and exchange Commission (SEC) and the Service regulation of the financial services industry (FINRA). To achieve its goal Coinbase also acquired financial company Keystone Capital Corp., Digital Wealth LLC and Venovate Marketplace.
“We are confident that this is an important period for the cryptosystem and testimony of growing up cryptoeconomy. In the case that Coinbase will get these licenses, it will be able in future to offer services such as trade cryptocurrency securities, margin and video OTC trading, as well as products for the analysis of market data,” explained Hiri.
The company will offer not only its own tokens, analogues of securities, but also to tokenservice existing securities. According to Hiri, it will bring to the industry the advantages of the cryptocurrency market: the calculations in real-time, easy tracking of the supply chain and trading hour.
“It democratizare access for companies and investors on capital market, will reduce costs to all participants and will make the ecosystem more transparent and open,” concluded Hiri.
Recall that in late may acquired Paradex Coinbase, a platform for exchange of digital assets. In addition, she announced the rebranding of their unit — exchange GDAX, which integrate services Paradex.