Coinbase has officially received the go-ahead to be able to list digital coins that are classed as securities. Reported on July 16th, the U.S Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA).
A representative from Coinbase reported that the SEC and FINRA authorized the exchange as to receive security dealers, Venovate Marketplace Inc. Digital Wealth LLC and Keystone Capital Corp.
In other words, this means that Coinbase will be able to expand their offerings with security tokens and they will also be able to operate as a security broker, an alternative trading system, and even a registered investment adviser.
Coinbase also stated that they plan to integrate its technology into the new subsidiaries. However, the exchange not reveal when this would happen.
Coinbase will also have to confirm that their employees hold the correct licenses to review how the company will report its data.
Coinbase is considering adding five new tokens
Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX). https://t.co/qoECyR0V1f
— Coinbase (@coinbase) July 13, 2018
Recently, the platform has announced that it’s exploring the addition of multiple new coins to their trading lists, which include the following coins:
- Basic Attention Token (BAT)
- Zcash (ZEC)
- 0x (ZRX)
- Stellar Lumens (XLM)
- Cardano (ADA)
“Today we are announcing that we’re exploring the addition of the following assets to Coinbase: Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX),” Coinbase posted on Twitter.
The exchange made sure also to make it very clear that this doesn’t guarantee that the new tokens will be listed for actual trading just yet.
Back in June Coinbase said that they would be supported Ethereum Classic (ETC) and ERC20 tokens. The platform then announced that their move to add ERC20 “paves the way for supported ERC20 assets across Coinbase products in the future.”
The SEC stated back in March that the platforms which are trading virtual assets were considered to be securities.