When the U.S. Securities and Exchange Commission voted on Friday to require financial institutions to register and report all cryptocurrencies as securities, it was a significant step toward establishing a national registry of crypto-currencies.
While the regulations do not require financial firms to report their customers’ cryptocurrency holdings, the rules will be an important starting point for any financial institution to understand how to handle customers who wish to trade in cryptocurrencies.
While most crypto-currency trading has been handled on traditional exchanges, some brokers have been allowing traders to use their own trading platforms to trade for crypto-assets.
This is the latest in a string of developments in the cryptocurrency industry, which has seen the number of trading platforms increase dramatically in recent years.
The SEC’s move comes just months after the agency issued a rule that required trading platforms and exchanges to report customer activity, including how many customers traded, and the types of trades that took place.
In addition, the SEC issued a new rule last week requiring all exchanges to verify the identities of each customer who registers with a platform and is willing to trade.
In a statement on Friday, the U:S.
Department of Labor and the U.: Department of Treasury noted that the SEC’s rules are aimed at protecting consumers and financial institutions from money laundering, and that financial institutions should use their best judgment in determining whether or not to comply.
“The SEC’s new rules will help ensure the integrity of the financial marketplace and reduce the risk of money laundering and other financial crimes,” said Department of Justice Deputy Assistant Attorney General for the Financial Crimes Enforcement Network, John B. Sullivan, in a statement.
“While some may argue that this regulation is not necessary or desirable, this new rule will allow consumers and the financial industry to be better informed about the activities of their customers.”
The SEC did not specify what type of trading platform or exchange it was requiring, but a number of crypto traders told the Financial Times that they use Bitfinex and Kraken to trade the cryptocurrencies.
According to CoinDesk, these exchanges trade approximately $1.2 billion in digital currencies each day.
Coinbase, the most popular of the three crypto-trading platforms, said in a blog post that it would allow traders to trade on the platform, though it has not yet officially announced the launch of the platform.
“We will soon begin rolling out an update to our platform to better integrate our trading platform with BitfineX,” Coinbase said.
While Coinbase has made the move to add crypto-marketing features to its platform, it has yet to reveal the exact amount of money it will make by doing so.
The company has a strong track record of creating a platform that makes money for users.
Last year, Coinbase was one of the first exchanges to launch a Bitcoin ATM.
“As we announced back in January, we are adding a Bitcoin ATMs to our network, and we expect to open more Bitcoin ATMS throughout the year,” Coinbase CEO Brian Armstrong wrote on Medium at the time.
“There are more than 1.5 billion bitcoins in circulation in circulation, and it’s likely that our ATM customers will be able to purchase bitcoin with fiat currency, or other digital currencies.”
Coinbase also has a relationship with Coinbase Wallet, which lets users trade in cryptocurrency directly through its app.
CoinDesk reported earlier this month that Coinbase is preparing to introduce a new Bitcoin ATM on its platform that will be similar to the ones it offers.
According a regulatory filing from the company, the new ATM will be called the Coinbase Bitcoin ATM and will be offered to customers of Coinbase’s exchange service.
Coinbase has also made moves to create a cryptocurrency exchange that will allow users to trade virtual currencies on a platform where they can buy, sell, and hold digital currencies for their personal use.
Coinbase’s move into the cryptocurrency space is an effort to ensure its platform can become a viable alternative to traditional exchanges and make it easier for consumers and businesses to trade cryptocurrency.
“Coinbase Wallet will allow its users to buy and sell Bitcoin, Litecoin, and Dash, as well as exchange them for fiat currency,” Coinbase wrote in its filing.
“Users will be rewarded with Bitcoin when they trade digital currencies on Coinbase.com and other platforms.”
While Coinbase and other cryptocurrency exchanges have been offering cryptocurrency trading since at least 2014, the move into cryptocurrencies has been slower than expected.
Earlier this year, the company introduced a new cryptocurrency trading service, Coinbase Baskets, that allows users to use cryptocurrency to purchase or sell products on its website.
Basketts was launched as a separate cryptocurrency trading platform but it is now integrated with Coinbase’s existing crypto-equity platform.
Coinbase announced that it was also adding the option to trade Bitcoin and other digital cryptocurrencies directly with its customers in August.
Earlier on Friday afternoon, Coinbase announced a new partnership with CoinLab, a blockchain technology company, that will provide a platform for its customers to trade digital currency.
In the future, Coinbase plans to allow its customers the ability to trade