Coinbase Engages SEC about Turning a Regulated Brokerage
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Here is some interesting news for COINBASE! I discovered it while reading CryptoCompare Market Analysis Report. Look below for details. Thanks!
Reference:
CryptoCompare Market Analysis
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According to the Wall Street Journal, Coinbase reached out to regulators about becoming a regulated brokerage firm and trading platform. Coinbase may look to become licensed by the US Securities and Exchange Commission (SEC) as an exchange but at the same time register as a broker-dealer, the latter of which face less stringent rules. But it would also mean the securities regulator would have carte blanche access to buy and sell transaction records. The Coinbase CEO, Asiff Hirji, also talked about the exchange reluctance to add new coins as the statement reads:
"We are on the right side of where the regulations are. You cannot then list things for which there is regulatory uncertainty because that doesn't fit with our mission. The assets that we do list have all had some amount of regulatory certainty. As soon as there is more regulatory clarity than there currently is you would expect us to start listing more assets.”
