$1.6 billion cryptocurrency exchange Coinbase is reportedly in talks to become a licensed brokerage firm

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• Coinbase, a $1.6 billion cryptocurrency exchange, has approached regulators about registering as a licensed brokerage, according to The Wall Street Journal.
• Registering with the Securities and Exchange Commission (SEC) would allow Coinbase to exchange those cryptocurrencies that the feds determine to be securities.
• Though the cryptocurrency space has historically been anti-regulation, the SEC is clamping down.

Coinbase, the $1.6 billion cryptocurrency exchange, has approached the United States Securities and Exchange  Commission (SEC) about registering as a licensed brokerage firm and electronic-trading venue, sources told The Wall Street Journal. 

Registering with the SEC would let Coinbase expand the cryptocurrencies traded on its platform to include those coins that the SEC identifies as securities — while putting pressure on its competitors to follow suit, according to The Journal. See the rest of the story at Business Insider

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See Also:

• The Nasdaq halts trading in 'blockchain' company Longfin after the SEC accused executives of selling $27 million in restricted shares
• Menlo Ventures makes the leap into crypto with a $40 million investment in a popular Coinbase competitor
• Google Cloud is experimenting with blockchains — and it could make us think completely differently about the technology

SEE ALSO: $1.6 billion Coinbase just made a big move toward supporting a bunch of Ethereum-based cryptocurrencies