Jump to content
Hohenheim

So.. if Coinbase is on track to be a securities trading venue

Recommended Posts

9 minutes ago, Hohenheim said:

Does this mean that their current offerings are considered securities?

Could this be the reason why they haven’t added xrp to their platform?

Any thoughts/opinions are much appreciated :)

They, as well as Circle-Poloniex, and possibly Fidelity, are getting ready for the eventuality that actual ICOs get launched in a regulated and legally conforming way. This is going to happen without doubt, and these companies want to be licensed to make a killing when companies need a place to sell their tokens for their sales. They will also be able to trade non-equities like BTC, but they need to be able to be first movers when we see real companies issuing real stock via digital assets. 

Share this post


Link to post
Share on other sites

The SEC chairman just stated that Bitcoin as a matter of fact is not a security and will not be classified as such.

I dont see Coinbase getting rid of Bitcoin, so this means they will be selling both securities and non-securities. They added ERC20 support so they will be selling all sorts of ICOs. The SEC chairman said ICOs will be listed as securities.

Basically whether XRP gets deemed a security or not there is no reason for it not to show up on Coin base.

That being said, XRP being deemed a security would be a disaster.

In my crazy fantasy, Coinbase is thinking this: ( we want to list XRP but are afraid it could be deemed a security. Lets get licensed to handle securities and go ahead and list XRP. If it remains non-security, great, if not, then at least we wont be prosecuted. Also to sell all these Ethereum based ICOs we have to get licensed.)

This is actually interesting news.. US based Exchanges are going yo HAVE to get licensed if they are selling any ICOs...

The SEC chairman made it super clear. ICOs are securities.

Edited by Trader-to-the-Crown

Share this post


Link to post
Share on other sites

United States cryptocurrency exchange Coinbase announced that it acquired securities dealer Keystone Capital, President and Chief operating Officer Asiff Hirji stated in a blog post. Pending approval by federal authorities, the platform will be "capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)," Hirji highlighted.

"Ultimately, we can envision a world where we may even work with regulators to tokenize existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title," the COO added.

Earlier in May, the company said that it was rolling out a set of new products aimed at institutional investors.

Breaking the News / BM

Share this post


Link to post
Share on other sites

Writing is on the wall after the verbiage and news this week.  They will add XRP.  It is also baffling that they haven't yet.  Money rules everything around here........

Whether there was a strategic reason or not, I still won't use Cuckbase because they waited so long to add XRP.

Edited by mrhat75

Share this post


Link to post
Share on other sites
1 hour ago, Trader-to-the-Crown said:

The SEC chairman just stated that Bitcoin as a matter of fact is not a security and will not be classified as such.

I dont see Coinbase getting rid of Bitcoin, so this means they will be selling both securities and non-securities. They added ERC20 support so they will be selling all sorts of ICOs. The SEC chairman said ICOs will be listed as securities.

Basically whether XRP gets deemed a security or not there is no reason for it not to show up on Coin base.

That being said, XRP being deemed a security would be a disaster.

In my crazy fantasy, Coinbase is thinking this: ( we want to list XRP but are afraid it could be deemed a security. Lets get licensed to handle securities and go ahead and list XRP. If it remains non-security, great, if not, then at least we wont be prosecuted. Also to sell all these Ethereum based ICOs we have to get licensed.)

This is actually interesting news.. US based Exchanges are going yo HAVE to get licensed if they are selling any ICOs...

The SEC chairman made it super clear. ICOs are securities.

Why is XRP been deemed a security (in the US) a disaster?  major use at moment seems to be outside the US 

Edited by kiwixrp

Share this post


Link to post
Share on other sites

I think its safe to say that xrp won't be deemed a security. The fact that law case raised against ripple about it being a security by those losers it a great thing for ripple. They will prove in court that its not a security. 

Why do I think its certain - well when the ripple law team hired Mary Jo White who previously held the position of chair at the US Securities and Exchange Commission (SEC) to fight the case that says all you need to know. Ok she is getting paid, but if you have a former SEC chair fighting your corner that you are not a security that's pretty convincing. 

Also big companies want to use xrp, I'm very confident from Brads tone of late, he knows what's coming. He will have already have had plenty of talks with the powers that be, and if he is confident, and I trust the big man, then so am I.

Share this post


Link to post
Share on other sites
1 hour ago, woodaldo said:

I think its safe to say that xrp won't be deemed a security. The fact that law case raised against ripple about it being a security by those losers it a great thing for ripple. They will prove in court that its not a security. 

Why do I think its certain - well when the ripple law team hired Mary Jo White who previously held the position of chair at the US Securities and Exchange Commission (SEC) to fight the case that says all you need to know. Ok she is getting paid, but if you have a former SEC chair fighting your corner that you are not a security that's pretty convincing. 

Also big companies want to use xrp, I'm very confident from Brads tone of late, he knows what's coming. He will have already have had plenty of talks with the powers that be, and if he is confident, and I trust the big man, then so am I.

Dare I say it, but I think Ripple is "too big to fail" - Ripple can help banks greatly, and XRP is part of that plan. The establishment aren't about to cut their own throats.  Are they going to gun down a 6-years-in-the-making project now operated by 225 employees that will help free up trillions of dollars around the world from nostro/vostro accounts which can help stave off another financial crash?  I venture the answer to that is NO.

Edited by 2ndtimearound

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...