Coinbase acquires broker-dealers and starts listing security tokens

Posted 17 July, 2018

The US Securities and Exchange Commission and the Financial Industry Regulatory Authority have reportedly permitted Coinbase to list tokes that can be classified as securities.

Coinbase has become able to acquire three broker-dealers –  Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. As a result, the exchange will add security-tokens and become a "broker-dealer, an alternative trading system and a registered investment adviser", as the company commented. 

With the green light for the purchase, the company can move to the next phase and apply the technologies to the acquired businesses to secure the corresponding certificates and licenses. However, Coinbase did not mention any schedule of this process. Besides, last Friday the company stated that they were considering adding of new coins (Cardano, Basic Attention Token, Stellar, Zcash and 0x). 

Notably, the company will not be the only player in this sector. Specifically, Coinbase will face strong competition with Circle Internet Financial Ltd., which is believed to be one of the main rivals. Last month, the latter expressed intentions to pass certification for brokerage activities with the SEC. Moreover, Circle is about to apply for the federal banking license targeting expansion of the services.

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17 July, 2018 12:12

← Binance and KuCoin announce regular tokens burning

Hong Kong-based cryptocurrency trading platform Binance will carry out the regular quarterly burning of its token – Binance Coin, BNB. The company founder and CEO stated that the exchange would announce the date soon after completion of the assessment. The white paper reads that the platform will spend some 20% of the revenue for buying out...

Binance and KuCoin announce regular tokens burning

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16 July, 2018 16:21

Bithumb to open branches in Japan and Thailand →

South Korea's Bithumb, one of the leading cryptocurrency exchanges, targets Thailand and Japan. For now, the company takes all required measures to get permission for business in these countries, following its plan for the global expansion. Bithumb is in talks with the Thai Securities and Exchange Commission.

Bithumb to open branches in Japan and Thailand
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