Cryptocurrency exchange Coinbase is planning for a stock market listing that could come as early as this year, Reuters reports, citing sources familiar with the matter.
Thus, Coinbase may be the first US-based cryptocurrency exchange to go public.
However, the exchange still needs to get approval from the US Securities and Exchange Commission (SEC). If and when the exchange gets the approval, it would represent "a landmark victory for cryptocurrency advocates vying for mainstream endorsement," Reuters writes.
The exchange plans to go public as early as this year or early next year since the plans are still subject to change.
Coinbase has not yet filed application to go public with the SEC, but has been in negotiations with several investment banks and law firms, the sources added.
In the beginning of July, the Fifth Circuit Court of Appeals in New Orleans classified Coinbase as a regulated financial institution after the exchange disclosed information about its client at the request of the FBI.
The decision was made when considering the appeal of Richard Gratkowski, sentenced to more than five years in prison for the purchase of prohibited child pornography.
Earlier, the FBI found out that between June 2016 to May 2017, Gratkowski used bitcoins to purchase illegal content.
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