Coinbase 'On Track' to Become a Regulated Securities Firm
Coinbase a crypto exchange announced Wednesday that it was make strides toward becoming a federally regulated broker-dealer.
Asiff Hirji the chief operating officer and president wrote in a company blog that they are in the process of acquiring a broker-dealer license, an alternative trading system license and a registered investment advisor license. Once it has these licenses, the company intends to seek approval from the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) to offer blockchain-based securities.
Part of this effort includes Coinbase's acquisitions of Keystone Capital Corp., Venovate Marketplace and Digital Wealth LLC, he wrote.
Hirji expanded on Coinbase's plans, writing:
This is good news? I don’t know how I feel about this. Obviously this will encourage more people to join if coinbase has backing for the SEC but its regulations.
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