Will Coinbase have its Initial Public Offering (IPO) Later This Year?
By Luke Flowers – Cryptocurrency Expert
Coinbase is one of the top-ranked United States-based exchange platforms for cryptocurrency trading. Established in 2012, the organization is virtually the most critical and well-known digital asset platform out there, with over 35 million users. In 2018 Coinbase was priced at $8 billion in a private fundraising round. It was reported as the 3rd largest exchange by spot trading volume in May with over $6.8 billion in crypto assets, following both Binance and OKEx on top.
Virtual Assets Service Providers (VASPs) and cryptocurrency businesses have been confronted with difficulties when trying to establish themselves with global regulators. Conversely, a sharp increase of interest by institutions is being seen in this new asset group. With the enforced ‘travel rule’, it is easy for the VASPs to comply with the regulators and to operate legally.
The US Financial Action Task Force (FATF), an organization of 39 member states, has also stepped forward in delivering further guidance on compliance procedures for VASPs. This is in contrast to top US regulator Securities and Exchange Commission (SEC), who many claim lack vision and understanding on the subject. The only thing the SEC mentioned was that some cryptocurrencies should be subjected to regulation and can be considered safeties.
As a result, Coinbase will require the approval of the SEC if they proceed with their initial public offering (IPO). Reuters reported from anonymous sources that, in fact, Coinbase is the platform that will be listed later this year by the SEC. What’s more, while the exchange giant has not recorded with the the SEC its plan to go public, it is believed that the organization is liaising vigorously with hire investment banks and other law firms.
For now, Coinbase and the SEC are both refusing to make any comment on the rumour. If the sources are found to be true, a new milestone would be reached and ignite a new era of groundbreaking digital currency and business innovation.
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