The crypto-exchanger Coinbase requested the SEC to license the brokerage services.
The cryptocurrency exchange Coinbase appealed to regulators to obtain a license for the provision of services as a brokerage company. The license will allow the exchanger to operate in accordance with the requirements of the Securities and Exchange Commission, which can treat crypto-currencies as “securities”.
At the same time, the SEC does not yet have a clear definition of the Crypto-currency, and the agency recommends that investors proceed from the case-law Howey Co., which led to the development of the so-called Howey Test, which allows to determine whether a particular crypto currency is a security.
Coinbase wants to become a “google in the world of crypto”
Coinbase declares its firm intention to become “like Google in crypto-currencies,” and therefore is working to expand the services offered to customers, in this context, and considers a request to the Securities and Resources Commission on the possibility of brokerage services.
After receiving regulatory assessment of the regulator, Coinbase will officially consider crypto currency as a security that will attract more customers to the trading platform.