[2018-07-17] Coinbase Cleared to List Crypto Securities

[bbc.reporter]

Ripple can relax now hehe. I also reckon the next to be listed on Coinbase is Stellar, which is a Ripple fork, and which I reckon is also a security token, that might have a big future as an alternative payment platform in America.

What are the biggest exchanges in America? Will they also need to apply as a broker-dealer?



Federal regulators have approved US cryptocurrency exchange Coinbase to operate as a broker-dealer, the company announced today. The approval means Coinbase will be able to offer blockchain-based coins that are categorized as securities in addition to letting users trade Bitcoin, Bitcoin Cash, Ether and Litecoin.

“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title,” Coinbase President and Chief Operating Officer Asiff Hirji said in a statement. Coinbase also intends to offer crypto securities trading, margin and over-the-counter (OTC) trading, and new market data products

Read in full https://dailyhodl.com/2018/07/16/breaking-coinbase-cleared-to-list-crypto-securities-act-as-an-investment-advisor-and-operate-as-a-broker-dealer/

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[vit05]

I was reading the Bloomberg article about this. They add that Circle (Poloniex) is trying the same strategy. So this could start the next bull run. Especially for the projects that were speculated, Cardano, Basic Attention Token, Stellar, Zcash and Ox./////

Coinbase isn’t the only runner in the race. One of its competitors, Circle Internet Financial Ltd., said last month that it intends to pursue registration as a brokerage and trading venue with the SEC so it can help investors buy and sell tokens deemed to be securities. The firm also plans to seek a federal banking license to provide more services to customers.

The next step for Coinbase is integrating its technology into the new subsidiaries, the spokesman said, without providing a timeline. That means making sure employees have the proper licenses and reviewing how the company reports data and onboards customers.

Coinbase said Friday that it’s looking into letting users trade five new digital coins -- Cardano, Basic Attention Token, Stellar, Zcash and Ox -- but can’t guarantee it will list the tokens. If it does add the assets, the move would signal a turning point for Coinbase, which currently only lets customers trade Bitcoin, Bitcoin Cash, Ether and Litecoin

Bloomberg

[yndye]

I was reading the Bloomberg article about this. They add that Circle (Poloniex) is trying the same strategy. So this could start the next bull run. Especially for the projects that were speculated, Cardano, Basic Attention Token, Stellar, Zcash and Ox./////

A lot of good news coming in nowadays which may be the start of bull run. Any coin that is listed in coinbase moons after being announced or just being tested in their explorer and as for the coins that you mentioned, yes their price increase when it was tested in coinbase and if ever they proceeded to adding more coins then it would be good for the crypto space since people who are having a hard time in transferring coins to other sites/exchanges would have an easy accessibility to those coins.

[Kakmakr]

This might explain the little bump in the price lately, but is that enough to spark a Bull run or do we have to wait for the SEC's decision on the ETF's

We have really come a long way, since the early days when Bitcoiners were seen as the enemy of the State. I hope this will be the beginning of a more favourable environment for institutional investors to start trading in a more regulated environment.

I can hear the Bulls running in the distance.   

[squatter]

What are the biggest exchanges in America? Will they also need to apply as a broker-dealer?

If they plan to offer securities, yes, they're supposed to be a licensed broker-dealer. That's what Circle's plan is with Poloniex (they apparently got the SEC's blessing to do so without bearing responsibility for Polo's past behavior). I imagine this is why Coinbase was so careful in the past not to list anything but POW coins (not securities).

“Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title,” [/glow]Coinbase President and Chief Operating Officer Asiff Hirji said in a statement.

As much as some would like to see tokens die, I think this is the direction we're heading. Tokenization and therefore 24/7 and P2P trading of existing securities. The first generation of ICOs were just the start.

This might explain the little bump in the price lately, but is that enough to spark a Bull run or do we have to wait for the SEC's decision on the ETF's

It looks like the birth of a new trend, but I've been around long enough that I'm skeptical of another bubble happening so quickly.

[InvoKing]

So this could start the next bull run.

It will be, i saw another topic in the press section talking about kraken mocking coinbase. Anyway, it is good for everyone in my opinion.

[bbc.reporter]

@squatter. Tokenization and replacing networks with markets is not the issue. ICOs can be a good way to raise the funds to start a project. But there are scammers everywhere and the success of the projects are not anymore judged in if they work or not but by the value of their tokens in the market. An example of this is Ethereum.

[cryptosfr]

Coinbase Retracts Announcement of Regulatory Approval to List Coins Considered Securities

https://cointelegraph.com/news/us-congress-hearing-central-bank-digital-currency-one-of-the-worst-financial-ideas

so dat was just  another  pump and  dump ??

[bbc.reporter]

@cryptosfr. Are you confused? I reckon you also did not read the article or you might have read it but you didn't understand it hehehe.

There is no retraction from Coinbase in that article, unless you posted the wrong link.

[vit05]

Blomber
“It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process,” Coinbase spokeswoman Rachael Horwitz said in an email Tuesday.


They did not get SEC approval because they did not need it. But they are still moving in the direction to operate as a broker-dealer, So that's still great news.