Hot on the heels of last weeks announcement that it is considering listing several new coins, Coinbase is making headlines again. This time, it is because it has been approved by the SEC and FIRA to move forward with several acquisitions that will allow it to list coins that are deemed as securities on its trading platform.
Bloomberg is reporting today that both the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FIRA) approved Coinbase's purchase of the companies Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC. By purchasing these companies, Coinbase will now be able to list any coin labeled as a security and will be officially regulated by federal oversight. Previously Coinbase operated under a variety of state authorities.
The SEC considers most digital tokens to be securities, so the move could pave the way for many more coins getting listed on Coinbase. Some of course are concerned that greater federal oversite of crypto is synonymous with cracking down on crypto, but it is too early to tell where this will lead.
It is now time for Coinbase to start integrating with these new partners in order to expand its service and to offer new products. In the coming months it will be fascinating to see how users respond to any changes and which coins will benefit the most from this.