Cryptocurrency & Blockchain Business

Coinbase Granted Approval to List Security Tokens by the U.S. Securities and Exchange Commission

San Francisco-based Coinbase has reportedly received the green light from U.S. regulators to list digital assets that are categorized as securities on its trading products.

According to a recent report by Bloomberg, the U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) approved Coinbase’s acquisition of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

Coinbase initially announced in June that it was on track to obtain the necessary licenses to become a fully-regulated securities firm, under the oversight of SEC and FINRA, where they also revealed three acquisitions.

Moving forward, Coinbase will be able to offer a more expansive number of services, including crypto securities, margin and over-the-counter (OTC) trading, in addition to new market data products.

The security tokens that Coinbase will list in the future will only be available to accredited investors, as these tokens are designed to be tradable assets and are issued to investors in the pursuit of future profits.

This news comes just a few days after Coinbase announced that it is actively looking to expand the number of digital currencies it supports. In the announcement, Coinbase shared that it is currently exploring adding five new cryptocurrencies to its trading products, including Cardano (ADA), Basic Attention Token (BAT), Stellar Lumens (XLM), Zcash (ZEC) and 0x (ZRX).

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