For all those who think buying and selling crypto is anonymous, think again, each and every transaction, purchase, transfer will now be logged and traced, i.e. pay your taxes! The latest from trader Nell Sloane’s CryptoCorner.
Moving onto cryptoland we have some key developments this week.
The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority approved Coinbase’s purchase of Keystone Capital Corp., Venovate Marketplace Inc. and Digital Wealth LLC, a company spokesman said Monday.
By Tuesday, the company walked that back. Coinbase now says it never got such an endorsement, Bloomberg reports.
The acquisitions enable the firm to offer so-called security tokens, and also place the businesses under federal oversight.
Coinbase has primarily been regulated by a patchwork of state authorities.
The move provides Coinbase licenses to operate as a broker dealer, an alternative trading system and a registered investment adviser, the San Francisco-based company said in June.
Alternative trading systems operate outside traditional public stock exchanges. (Zerohedge)
We can only figure that Coinbase, originally backed by a few U.S. institutions and is seemingly in favor with the IRS, is now prepared to be the house or exchange for U.S. cryptocurrency participants.
As far as last Friday’s crypto settles, here we are starting with bitcoin (BTC-USD) to EOS (EOS).
OK, that does it, we hope you have a great week of trading and investing.
