The United States’ leading cryptocurrency exchange, Coinbase, announced today that it has been given approval from the U.S. Securities and Exchange Commission (SEC) to become the first federally regulated trading platform to offer digital coins the SEC considers securities in the U.S.

Coinbase began its move into mainstream markets last month after purchasing Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC as a means of acquiring the licenses necessary to become a SEC-regulated brokerage dealer. Bloomberg reports today that these acquisitions have now been approved by the SEC, giving Coinbase permission to begin preparation for becoming an “alternative trading system”, which according to Bloomberg, “operate[s] outside traditional public stock exchanges.”

A Coinbase spokesperson has told Bloomberg that the next step for the company “is to begin integrating its technology into the new subsidiaries.” This process will include making sure employees “have the proper licenses and reviewing how the company reports data and on-board customers.” Coinbase has yet to release a timeline for when this process will be completed.

Coinbase has been extremely active in expanding its business over the last several months. The exchange is estimated to have over 14 million users, with as many as 300,000 additional users being signed up any given week. Earlier this month Coinbase opened ‘Coinbase Custody‘ aimed at attracting business from crypto hedge funds, exchanges, and ICO teams, and last month an announcement was made that Coinbase will soon be offering its services in Japan.

Other companies are now quickly trying to catch up to Coinbase in the race to bring crypto to Wall Street. Most notably, Circle Internet Financial Ltd, one of the world’s most valuable cryptocurrency platforms, announced last month that it too is seeking to register as a brokerage and trading venue with the SEC.

The post Coinbase Receives SEC-Approval to List Cryptocurrencies Considered Securities appeared first on UNHASHED.

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