The largest operator of the wallet and exchange Coinbase has announced receiving the green light from US regulators: the Commission on securities and exchange Commission (SEC) and the Agency on regulation of activities of financial institutions (FINRA) approved the purchase of the company three companies – Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.
This means that Coinbase will become the first regulated on the Federal level platform, which will be traded for tokens of the action – tokens of investment that gives the owner the right on realization of the investment interests.
This step will give Coinbase a license to operate as a dealer, broker, alternative trading system and a registered investment adviser, said representatives of the company in June, waiting for approval of regulators.
Regulated trading platform can end up processing billions of dollars in tokens implemented by the companies during the ICO. Despite the tightening of regulation in the United States, China and other countries in 2018, the company already has attracted more than $12 billion through the ICO, which is almost three times higher than collected in the same way means in 2017, according to Market Tracker CoinSchedule.
SEC said that most of the tokens are securities. This means that issuers must be registered and comply with Federal laws – as well as the platforms that handle the trading operations. According to the representative of Coinbase, the next step will be the integration of its technology into subsidiaries.
Previously, Coinbase said it plans to add support for several new tokens: Cardano, Basic Token Attention, Stellar Lumens, zcash for and 0x.