Will the SEC control the coins listed on Coinbase one day?

[Akinwale701]

I think that the major gap in our financial system is that which exists between the crypto financial system and the regular fiat system. In order for financial systems to truly prosper i think that there needs to be a bridging of these two systems. Coinbase has recently filed with the SEC to be listed on the stock exchange. If this happens, and the motions is accepted, the SEC may soon be controlling the coins that are listed on Coinbase. Do you think that this is a good idea? Is this likely to affect the userbase of Coinbase? Or could this be the bridging of the two financial systems that we have been hoping to see?

it will be better if such move can be made so as to at least reduce the great risk involved in trading some coins. But I think it should not be only on coinbase but other Cryptocurrency platforms. I look forward to when this will be done.

 

[BrolySSJ]

it will be better if such move can be made so as to at least reduce the great risk involved in trading some coins. But I think it should not be only on coinbase but other Cryptocurrency platforms. I look forward to when this will be done.

I think that in order for the other platforms to have this as well they will have to apply for this status so if they don't do that application to be listed then I doubt that the coins that they list will be regulated by the SEC. Also, this will only apply to those of the exchanges that are listed i=or that are based in the USA because those that are based in different countries will be governed by different rules.

 

[Seun4luv]

Yes coinbase is regulated and also coinbase complies with all applicable laws and regulations in each jurisdiction in which it operates. Coinbase is also a legitimate crypto currency. Coinbase can not run away with your money.

 

[Chumzy]

Maybe not Securities and exchange commission, but I feel like there will come a time when there will be need for regulation. Coins are coming out everyday, and some of them are just meaningless. A control will really help regulate the market and put a form and order to help move the market.

 

[Royalty]

Coinbase complies with all applicable laws and regulations in each jurisdiction in which it operates.
United States Coinbase, Inc., the company which operates Coinbase and GDAX in the U.S., is licensed to engage in money transmission in most U.S. jurisdictions. Most of Coinbase’s money transmission licenses cover US Dollar Wallets and transfers. In some states, money transmission licenses also cover digital currency wallets and transfers on the platform

 

[abubakar3141]

The consequence is that anyone who purchase Coinbase's bitcoin will be able to invest it right away. More specifically, in the extremely competitive digital currency market, the new strategy makes it easier for ordinary investors to engage in daytime trading.

 

[Funky]

I guess we would have to wit and see what happens between Sec and ripple at first which is what would determine if there would be more power to the sec to control many other coins.

 

[babdud02]

I think that the major gap in our financial system is that which exists between the crypto financial system and the regular fiat system. In order for financial systems to truly prosper i think that there needs to be a bridging of these two systems. Coinbase has recently filed with the SEC to be listed on the stock exchange. If this happens, and the motions is accepted, the SEC may soon be controlling the coins that are listed on Coinbase. Do you think that this is a good idea? Is this likely to affect the userbase of Coinbase? Or could this be the bridging of the two financial systems that we have been hoping to see?

I think many people might not consider it again if SEC have control over it.Many people really like cryptocurrency because it’s like it’s been control by any part of governmental agency

 

[Alexandoy]

The stock exchange is for legit corporations so if Coinbase falls in that category and it passes the other requirements then it can be approved. However, the coins listed is another story. Stock exchange deals with stocks only while crypto is a different animal that I think SEC will not approve.

 

[BrolySSJ]

I think many people might not consider it again if SEC have control over it.Many people really like cryptocurrency because it’s like it’s been control by any part of governmental agency

Exactly this is what sets cryptocurrency apart from the regular fiat currency that we have, and if the sec or government has to regulate it then chances are that it will become a centralized financial system.

 

[Kelly5]

Money movers know why they are making decisions on how they want the transactions to go. Always to their advantage. This move might lower the the user base of coinbase

 

[Josemendez]

Coinbase is in US and thus within the SEC jurisdiction ,so if there is any coin that do not follow their terms and conditions , they will surely come for the coin .

 

[BrolySSJ]

Coinbase is in US and thus within the SEC jurisdiction ,so if there is any coin that do not follow their terms and conditions , they will surely come for the coin .

This would be rather unfair as it shows that coinbase is the company that is dictating which coins should be allowed and which should be looked into more carefully and this does not seem right.

 

[Justin]

I do not see that happening because controlling by a government agency is against the spirit of the crypto currency. Cryptocurrencies are the money that cannot be controlled by anyone.

 

[BrolySSJ]

I do not see that happening because controlling by a government agency is against the spirit of the crypto currency. Cryptocurrencies are the money that cannot be controlled by anyone.

This is true, however there are many countries right now that are trying to rather get cryptocurrency to be on a centralized network as opposed to a decentralized network in order for them to legalize it.

 

[Josemendez]

This would be rather unfair as it shows that coinbase is the company that is dictating which coins should be allowed and which should be looked into more carefully and this does not seem right.

Well , coinbase have right to say yes or no towards listing or delisting any coin . Sec also have limitations as where there power is trying at and where it is not.

 

[ahmedo24]

Coinbase is in US and thus within the SEC jurisdiction ,so if there is any coin that do not follow their terms and conditions , they will surely come for the coin .

As does the fact, they already regulating or controlling the activities of every coin that is listed on becoming base the only thing they do is that they can't regulate the volatility or price of those coins.

 

[Josemendez]

As does the fact, they already regulating or controlling the activities of every coin that is listed on becoming base the only thing they do is that they can't regulate the volatility or price of those coins.

Yeah. Even some cryptocurrency projects are already prepared for them because after ripple case , they are going to come for another coin , perhaps BNB .

 

[ahmedo24]

Yeah. Even some cryptocurrency projects are already prepared for them because after ripple case , they are going to come for another coin , perhaps BNB .

Yeah , the rate at which Binance is facing ban from different countries I won't be surprised if SEC come after Binance coin (BNB) in the future.

 

[Setho]

A lot of the government establishment are already taking about how they do jot have a good stand with crypto so a lot remains to be seen in the future.