Coinbase, the US leading cryptocurrency exchange, plans to obtain the brokerage license. According to people familiar with the matter, the cryptocurrency firm has approached the national regulators about registering as a licensed broker. The move will allow Coinbase to conduct its operations in accordance with the requirements of the Securities and Exchange Commission (SEC).
As a licensed broker, the crypto exchange will be able expand the list of its assets. It will include digital tokens the SEC views as securities.
“The assets that we do list have all had some amount of regulatory certainty,” Coinbase President Asiff Hirji said on CNBC on Thursday. “As soon as there is more regulatory clarity than there currently is you would expect us to start listing more assets.”
The SEC has not completely cleared the issue of cryptocurrencies up. Most likely, Coinbase will test the ERC20 standard, created on the basis of the Ethereum network. The brokerage license will allow the cryptocurrency firm to comply with the US regulatory framework, thus reducing legal risks.
Earlier, Coinbase announced it will support the withdrawal of Bitcoin Forks. This will facilitate the process of withdrawal of bitcoin offshoots, the company said. The statement reflects that Coinbase Custody aims to build infrastructure to support future Bitcoin forks, and the plans to expand the assortment of digital assets by the electronic-trading venue.
