Crypto News : Coinbase to Become SEC Regulated!
In recent news it appears Coinbase has made an acquisition of securities dealer Keystone Capital Corp. in addition to Venovate Marketplace, Inc., and Digital Wealth LLC.
Why would they do that and why have I decided to write about it? Well from what I know this is very big news and a preview of what may be to come for the cryptospace.
You see, Coinbase is the largest US cryptocurrency trading platform and they are making a sincere move to become a fully regulated broker dealer by the US Securities and Exchange Commission (SEC).
What these means is that large companies may decide in the future to issue their stock via blockchain rather than the traditional centralized methods used today. We are about to enter a new age of cryptosecurities and it may completely transform the financial landscape as we know and understand it. This would be like Amazon and Bitcoin having a baby. A new hybrid investment with much more liquidity then are found on traditional stock exchanges.
The acquisition could help the San Francisco-based exchange extend its offerings and subsequently expand into non-crypto financial products. In the announcement, the company said it’s looking to “work with regulators to tokenize existing types of securities,” which the exchange believes will “democratize access to capital markets” for companies and investors in the industry.
So firstly Coinbase will be allowed to trade traditional securities. Secondly they may be the first to pioneer the tokenization of existing securities. Guys, this is huge.
Asiff Hirji, President and Chief Operating Officer of the exchange, had the following words to say about this move.
"If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This step forward is being made possible by our acquisition of a broker-dealer license."
I don't know about you but this makes me feel like a bull run may not be as far as some may think. The entire market could rally on further evidence presented by governments that this is indeed where we are going!
What do you think about this news and how do you see it affecting markets in general?
Source:
Coinbase Acquires Financial Services Firm to Become SEC-Regulated Broker Dealer - CoinTelegraph
Image Source:
CoinTelegraph
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So now Wall Street is entering the cryptocurrency scene, well this is going to become mainstream it seems.
This is the best news possible for cryptocurrencies, hitting the mainstream will ensure stability to the value of every coin on the market, and it is great that we are going to be able to purchase stocks and bonds directly with our coin.
There is no doubt that the market is going to be associated more and more with the crypto coins and that's good news for all of us here getting those coins since almost the beginning.
Cryptos are the future! Thanks for sharing.
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