During this summer, reports surfaced stating that Coinbase had initiated plans for a stock market listing. Meaning, Coinbase could possibly be going public with its own IPO. However, for this to occur, the listing would need US Securities and Exchange Commission’s (SEC) approval. Reuters had reported that Coinbase could pursue the listing early next year, if not in 2020.
According to a recent announcement, Coinbase said that it has “confidentially submitted” a draft registration statement with the Securities and Exchange Commission. The company expected the draft of the “Form S-1” to become effective after SEC completed its review process, subject to market conditions.
Coinbase further added that the announcement did not constitute “an offer to sell or the solicitation of an offer to buy any securities” and stated:
Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”).
Coinbase further added that the announcement in question was being issued in accordance with “Rule 135 under the Securities Act.”
Reuters had reported earlier that although Coinbase had not yet registered its intention to go public with the SEC, it had been in talks to hire investment banks and law firms. At the time, a Coinbase spokesman said that the company did not comment on rumors or speculation. If Coinbase were to gain SEC’s approval for listing, it would spell a landmark achievement for the ecosystem; this would mean yet another endorsement of Bitcoin and other digital assets as a mainstay in the world of finance.
The post appeared first on AMBCrypto
