Coinbase—leading U.S. marketplace for cryptocurrencies, intends to expand its business against its competitors, as announced by the company on April 5, 2018.
Coinbase is a San Francisco-based company that plans to support new crypto-assets, while joining regulators in doing so. The company will address if digital assets are securities and will also find a way to legally trade those products.
“It seems like they’re laying the groundwork for supporting tokens from the technical side and from a regulatory standpoint as well,” said Scott Suh, research associate at Canaccord Genuity.
The start-up and Securities and Exchange Commission officials together discussed registering as a licensed brokerage and electronic-trading venue, as reported on Friday. It has also been confirmed that the cryptocurrency company is planning to register its business with the agency. Coinbase has not been available for any comments on the matter.
While it seems like a good deal for the company to have a brokerage license, to make it easier to support more coins while complying with securities regulations.