Coinbase backs out of message about SEC approval

Posted 18 July, 2018

US-based Coinbase backed away from the previous statement that they got greenlight for the acquisition of the broker-dealer companies in the USA. 

Early this week the company announced that US regulatory authorities approved the purchase of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC, which would expand Coinbase business after obtaining broker license from SEC. 

At the same time, the company made an opposite statement on Tuesday. The company representative noted:

"It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process...The SEC’s approval is not required for the change of control application".

It was also mentioned that the company held informal talks with some SEC members regarding "aspects of the proposed operations, including the acquisition of the Keystone Entity".

Coinbase still strives to expand business and do not give up plans to become a certified broker company in the USA. 

For now, the exchange supports trading of Bitcoin, Bitcoin Cash, Ethereum and Litecoin. 

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18 July, 2018 18:08

← Wells Fargo targets patent for tokenization system

American bank Wells Fargo from San-Francisco has filed a patent application for a tokenization system. The new system is aimed at protecting data. The application was submitted to the US Patent and Trade Office. According to the released application, tokenization will underlie in location, access or protection of the data (e.g. graphic, document, database elements).

Wells Fargo targets patent for tokenization system

Next story

18 July, 2018 13:14

Financial Services Agency in Japan reorganized to boost effectiveness →

Seoul has decided to overview and restructure the country's financial regulator the Financial Services Agency to make it more effective in scoping with the challenges the financial sectors, in particular, digital coins. It revised different departments with new ones to be established. Specifically, the authority will run Strategy Development and Management Bureau instead of the Inspection Bureau.

 Financial Services Agency in Japan reorganized to boost effectiveness
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