SEC Allows Coinbase to List Shares on Nasdaq, Marking Huge Win for Cryptocurrency Supporters
The listing gives further legitimacy to the use of digital currency among investors.
The SEC has given the U.S.' largest cyptoexchange, Coinbase Global Inc., the green light to list its shares on Nasdaq, Coinbase announced in a blog post yesterday.
The decision marks a huge win for digital currency, as mainstream investors, including noted stockbroker Peter Schiff, have expressed doubts about its legitimacy in recent months. In making its announcement, Coinbase said it expects its Class A common stock to begin trading on the Nasdaq Global Select Market on April 14.
Coinbase filed for a listing back on Feb. 25, calling itself an "emerging growth company" at the time. The company was founded in 2012 with the purpose of making Bitcoin trades easier. It has since expanded its offerings to include other cryptocurrencies.
Coinbase joins a list of companies that are buying into the concept of cryptocurrency. Last month, Visa and PayPal both announced that they would allow customers to make payments using cryptocurrencies. Tesla also said it would accept Bitcoin as payment.
Justin Chan is a news writer at Entrepreneur.com. Previously, he was a trending news editor at Verizon Media, where he covered entrepreneurship, lifestyle, pop culture, and tech. He was also an assistant web editor at Architectural Record, where he wrote on architecture, travel, and design. Chan has additionally written for Forbes, Reader's Digest, Time Out New York, HuffPost, Complex, and Mic. He is a 2013 graduate of Columbia Journalism School, where he studied magazine journalism. Follow him on Twitter at @jchan1109.