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Coinbase Exchange Plans To Receive A Brokerage License

Coinbase Exchange Plans To Receive A Brokerage License

Cryptocurrency

Coinbase Exchange Plans To Receive A Brokerage License

The American Cryptocurrency exchange Coinbase is negotiating with the ‘The United States Securities and Exchange Commission(SEC) to register as a licensed brokerage company, reports The Wall Street Journal. This license will allow Coinbase to trade cryptocurrencies defined in the US as security tokens. Many issuers of crypto currency are against this approach, as it entails complex bureaucratic procedures in trading transactions.

GDAX exchange, the brand name of Coinbase platform, offers the following trading pairs: Bitcoin, Bitcoin Cash, Litecoin and Ethereum against the Dollar, Euro and British Pound, and is ranked 9th in the daily trading volume($149,110,637). At the same time, the exchange popularity among non-specialists shows that its decisions will set trends for other market participants.
Recently, Coinbase announced that it plans to add ERC20 tokens to its listing. In this case, an official permit for security tokens trading will guarantee a quiet work. At the same time, the SEC itself has not yet determined which digital tokens should be considered the security one.

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