Waiting Game? Why Coinbase Won't Add New Cryptos Anytime Soon
Supporting new crypto assets may be a "top priority" for Coinbase, but any such additions to its order books might not be close on the horizon.
According to Coinbase general manager Dan Romero, the San Francisco-based exchange wants to add several new cryptocurrencies in line with customer feedback, but it's treading cautiously as U.S. regulators deliberate on how they might treat certain uses of the technology.
"The reality of the regulatory situation keeps us from going and doing that right away," he said.
Specifically, Romero mentioned the Securities and Exchange Commission (SEC), which is rumored to have dozens of investigations ongoing concerning initial coin offerings (ICOs) - fundraising efforts that involve the creation of custom cryptocurrencies. While speculation is ongoing about the nature of the investigations, the regulator seems to be gathering information in an effort to make a ruling on when a crypto token is a security.
https://www.coindesk.com/waiting-game-why-coinbase-wont-add-new-cryptos-anytime-soon/
FOMO or FUD?
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Thanks for the update and insight.
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