Coinbase Acquires Broker-Dealer in Push to Sell Securities
The cryptocurrency service Coinbase announced on Wednesday it had acquired Keystone Capital Corp, in a move that will clear the path for it to operate as broker-dealer. The acquisition puts the San Francisco company on a firmer regulatory footing with the SEC, and positions it to offer both traditional equities and a broader range of blockchain-based securities. While Coinbase is the largest U.S. cryptocurrency exchange, it currently offers only four types of virtual currency, including Bitcoin (BTC), Bitcoin Cash (BCC) , Ethereum ETH) , and Litecoin (LTC). The limited selection reflects the company’s cautious approach at a time when the SEC had indicated it regards most digital tokens as securities that must be registered.
