US-based Coinbase Retracts Statement that it Will List Security Tokens in the Future

After key acquisitions that US government agencies have approved, Coinbase is on its way to list in its platform security tokens in the future.

Photo for the Article - US-based Coinbase Retracts Statement that it Will List Security Tokens in the Future

Update: Coinbase retracted its announcement, as per new report from Coindesk.

Popular cryptocurrency exchange platform Coinbase announces that users can soon trade security tokens in its platform because of key acquisitions that have been approved by US government agencies.

Coinbase stated that the US Securities and Exchange Commision (US SEC) and the Financial Industry Regulatory Authority (US FINRA) have allowed the company to acquire the three security dealers – Keystone Capital Corp., Digital Wealth LLC., and Venovate Marketplace Inc. This will allow Coinbase to offer security tokens in its platform. Additionally, it can operate as a broker-dealer and a registered investment adviser. Lastly, it will be allowed to operate an alternative trading system, which are systems that operate outside traditional public stock exchanges.

Coinbase will soon integrate its technology to the newly acquired companies, as well as make sure employees have the proper licenses to work within their industry. The acquisition has made Coinbase be under more federal oversight.

Previously, Coinbase announced that it is considering to list in its platform the following altcoins: 0x (ZRX), Zcash (ZEC), Stellar Lumens (XLM), Basic Attention Token (BAT), and Cardano (ADA). The platform, however, did not provide a timeline nor a confirmation that the altcoins mentioned will eventually be listed.

Coinbase also previously announced its support for Ethereum Classic (ETC), which, Coinbase said, will pave the way in adding more ERC20 assets in the future.

Coinbase operates a mobile wallet that is also available in the Philippines but with limited features. For one, users from the Philippines are not able to buy and sell crypto in the Coinbase wallet. The company also operates an order book exchange called “Coinbase Pro”, which is also unavailable in the Philippines.

Sources: Coindesk, Bloomberg

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