Coinbase Engages SEC about Turning into a Regulated Brokerage

The San Francisco-based cryptocurrency exchange is reportedly in talks with the US Securities and Exchange Commission (SEC) about becoming a regulated brokerage firm and trading platform. According to The Wall Street Journal, Coinbase reached out to regulators about the getting licensed even as the SEC moves closer to crafting some regulatory framework by which exchanges and other market players would operate.

Bitcoin exchanges have been feeling increased pressure from the Wall Street regulator of late, as evidenced by the SEC launching an investigation into ICOs and putting exchanges on notice that they were on the radar, too. While SEC Chairman Jay Clayton recently stated that not all ICOs are fraudulent, the regulatory agency has also made it clear that security tokens must be traded on licensed exchanges.

Reference: https://www.ccn.com/coinbase-engages-with-regulators-about-becoming-a-licensed-bd-report/

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