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Coinbase steps up efforts to expand business

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Coinbase, the leading U.S. marketplace for cryptocurrencies, is working on ways to expand its business as it tries to stay ahead of the competition.

The San Francisco-based company has made a series of announcements that pave the way towards supporting new crypto-assets, while reportedly stepping up its efforts to work with regulators.

In doing so, the nearly six-year-old company may help address whether certain digital assets are securities and find a way to legally trade those products.

“It seems like they’re laying the groundwork for supporting tokens from [the technical] side and from a regulatory standpoint as well,” said Scott Suh, research associate at Canaccord Genuity.

The start-up met with Securities and Exchange Commission officials in recent weeks to discuss registering as a licensed brokerage and electronic-trading venue, The Wall Street Journal reported Friday, citing sources familiar with the situation.

A source familiar with the situation confirmed to CNBC that the cryptocurrency company is in talks with the agency about registering its business. Coinbase declined to comment.

Having a brokerage license could make it easier for Coinbase to support more coins while complying with securities regulation, some analysts said.

Coinbase, the leading U.S. marketplace for cryptocurrencies, is working on ways to expand its business as it tries to stay ahead of the competition.

The San Francisco-based company has made a series of announcements that pave the way towards supporting new crypto-assets, while reportedly stepping up its efforts to work with regulators.

In doing so, the nearly six-year-old company may help address whether certain digital assets are securities and find a way to legally trade those products.

“It seems like they’re laying the groundwork for supporting tokens from [the technical] side and from a regulatory standpoint as well,” said Scott Suh, research associate at Canaccord Genuity.

The start-up met with Securities and Exchange Commission officials in recent weeks to discuss registering as a licensed brokerage and electronic-trading venue, The Wall Street Journal reported Friday, citing sources familiar with the situation.

A source familiar with the situation confirmed to CNBC that the cryptocurrency company is in talks with the agency about registering its business. Coinbase declined to comment.

Having a brokerage license could make it easier for Coinbase to support more coins while complying with securities regulation, some analysts said.

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