Bitcoin Global News (BGN)
June 07, 2018 -- ADVFN Crypto NewsWire -- What does it mean for a
Crypto exchange company to become fully regulated and able to sell
and trade fiat biased products, as well? Coinbase has already been
the first mover in terms of being a Crypto exchange and wallet
service and actually succeeding in doing so,
over the long term.
Now, the news has just broken that
they’ve acquired the companies, Keystone
Capital Corporation, Venovate Marketplace, and Digital Wealth,
which apparently enables them to file to be treated the same as a
traditional stock broker and dealer.
Over the long term, this signifies
that Coinbase is making a real effort to spread the Blockchain, as
well as, of course, Cryptocurrencies, to the traditional financial
market in a way that it should accept. In the short term, this
appears to mean that they’re looking to be the first mover of
another kind, in terms of being taken seriously and treated fairly
by regulators.
It is clear that the possibility
exists of Coinbase being the first domino to drop in terms of
Crypto actually becoming widely accepted. If they’re also able
to add ERC20 tokens and they
do so en-mass, but critically, it could mean that the serious
Crypto projects are able to quickly follow suit and fall under some
sort of regulatory framework.
For Coinbase, in the very short
-term, this also includes being able to list Crypto projects that
are officially SEC regulated, though, as mentioned in our previous
pieces, it is not quite clear at this time, what these
are.
What is clear is that traditional
financial firms are slowly moving in the opposite direction,
towards being able to offer what are also called “Blockchain-based
securities,” under the watchful eye of the government. Inside of
this group, an original report by Cointelegraph
mentions Susquehanna, which is a
well-known broker-dealer firm, out of
Pennsylvania.
In terms of businesses that have
already been active in the Blockchain industry, Coinbase isn’t
alone. Most of you who are even slightly acquainted with the space
know a bit about what the Circle group has been
doing. Now, besides being able to sell the top Cryptocurrencies,
Circle is also looking to become a brokerage and trading house
that’s officially SEC regulated, so that it can trade all types of
token projects without worrying.
These movements come on the heels
of Coinbase announcing its move into Japan, for which it
also plans to become regulated. In addition to this, the major
motivation for Coinbase, Circle and other well-known Crypto dealers
to play ball is simply, as Circle puts it, to only speak to and
deal with one regulator.
As all of this continues forward,
it will likely be a make or break moment for the industry and as of
now, all signs appear to be pointing towards some sort of positive
outcome once the process is finished.
By: BGN Editorial Staff
News:
Coinbase
Cryptocurrency
Exchange
Cryptocurrencies
Blockchain
SEC