Coinbase Sec regulations, company aligns with US authority
Coinbase Sec regulations, company aligns with US authority

Coinbase Sec regulations, company aligns with US authority

By Fabio Lugano - 7 Jun 2018

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Coinbase Sec regulations: the exchange has acquired various licenses, including that of broker-dealer, which is subject to the US supervisory authority. The objective is to offer services to institutional investors.

Coinbase si allinea alle norme SEC: leggi l’articolo in lingua italiana.

Yesterday, Coinbase’s President Asiff Hirji said they are “on track” to get federal approval as they acquired Keystone Capital, Venovate Marketplace and Digital Wealth, a broker-dealer license (BD), an alternative trading system license (ATS) and a registered investor license (RIA).

If approved, Coinbase may offer blockchain-based securities under the supervision of the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).

We’re not just talking about cryptocurrencies, but about different digital resources based on blockchain technology, such as securities or collectibles.

The company’s objective is to be able to offer services to so-called “institutional investors”, such as securities trading, over-the-counter (OTC) trading and other new products.

Coinbase would also like to work with regulators to develop new rules for these new markets keeping in mind the “democratization of access to capital markets for both companies and investors”.

Meanwhile, Circle, the funded Goldman Sachs operator, has also revealed that it is seeking a federal banking license from the Office of the Comptroller of the Currency (OCC), with the goal of registering with the SEC.

This SEC “race” is due to the fact that in the US the new rules could compare some blockchain-based assets to the so-called “securities“, i.e. financial assets whose markets are regulated by the SEC.  

If the US authorities will proceed, operators wishing to continue providing services in this sector will have to adapt to the new hypothetical regulatory framework.

Fabio Lugano

Graduated with honors from Bocconi University, Fabio is a consultant for companies and wounded shareholders of the Banche Venete. He is also the author of "Scenari Economici", and lecturer and analyst of cryptocurrencies since 2016.

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