One of the largest exchanges Coinbase plans to become a regulated broker-dealer and awaits appropriate permission from the federal authorities.
After the approval, Coinbase will soon be able to offer securities on the basis of blockchain under the supervision of the US Securities and Exchange Commission (SEC) and the Financial Sector Regulatory Agency (FINRA). This became possible due to the acquisition of a broker-dealer license (BD), an alternative trading system (ATS) and a registered investment adviser license (RIA).
Currently, there are many types of digital assets on the basis of the blockchain, from cryptocurrencies to tokenized securities and collectibles. In the United States, some of these assets will be subject to SEC control.
“Due to the existing licenses, we will be able to provide customers with the opportunity not only to buy, sell, but also use a variety of different types of cryptocurrency assets” – the company has written on the blog.
“Ultimately, we can imagine a world in which we can even work with regulators to denote existing types of securities by introducing the advantages of markets based on cryptocurrencies into this space for example, trading in 24/7 mode, calculating in real-time mode and the chain of ownership transfer” – says crypto-exchange.
Coinbase believes that this will lead to democratization of access to capital markets for companies and investors, reducing costs for all participants and providing additional transparency and integration into the ecosystem.