Coinbase now says they never got an endorsement from the SEC to list security tokens

  • July 17, 2018
  • 7:50 pm ET

Today, a Securities and Exchange Commission spokeswoman reported that the agency did not give San Francisco-based Coinbase any “green-light” to list tokens classified as securities on their platform.

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Today, a Securities and Exchange Commission spokeswoman reported that the agency did not give San Francisco-based Coinbase any “green-light” to list tokens classified as securities on their platform.

Monday, Bloomberg reported that Coinbase had received approval from the SEC and the Financial Industry Regulatory Authority to purchase Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC.

These acquisitions would allow the company to act as a broker-dealer and would enable a venue for trading tokens deemed as securities.

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Rachael Horwitz, Vice President Communications at Coinbase has clarified:

“It is not correct to say that the SEC and FINRA approved Coinbase’s purchase of Keystone because SEC was not involved in the approval process.”

Horwitz told Bloomberg today that the acquisitions had, in fact, only been discussed informally with SEC employees and further clarified that the SEC’s approval is actually not even needed for the “change of control application.”


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