Exchanges

CoinBase all set to become a regulated exchange, gets green light from regulators

U.S. Watchdogs have given a green signal to CoinBase, one of the world’s most popular and largest exchange, for its acquisition of Keystone Capital Corp., Venovate Marketplace Inc., and Digital Wealth LLC. This move by CoinBase will allow the firm to become a Federal Regulated exchange, as reported by Bloomberg.

These acquisitions by CoinBase will allow the firm to list and trade the so-called security tokens. With this CoinBase will now become a brokerage dealer, an alternative trading system, and a registered investment adviser.

Institutional investors have shown interest towards Bitcoin and other cryptocurrencies but so far have stayed away from cryptocurrencies due to lack of regulations and financial protection. CoinBase believes that the firm can change that. With the new regulations in place and approved licenses, CoinBase is slowly positioning itself to cater to the wealthy 1%.

According to Bloomberg, regulated exchanges could possibly handle billions of dollars in tokens sold by companies in initial coin offerings. CoinBase isn’t the only one. seeking a regulatory license. Circle Inc, a Goldman Sachs backed exchange too is seeking for a regulatory license.

Last Friday, CoinBase announced that it is looking to add 5 more new tokens on its platform – BAT, Stellar, ZCash, 0x and Cardano. It is still unclear as to what token will be added.


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Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.

Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He joined the cryptocurrency space in 2017. He is the founder of Blockmanity. He is a HODLER and is holding BTC, ETH & UGT.

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Ishan Garg

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