Crypto.IQ Daily Digest June 7, 2018

EXCHANGES • FROM COINDESK.COM

Coinbase ‘On Track’ to Become a Regulated Securities Firm

IQ THOUGHTS:

The logical next step for securities firms and cryptocurrency is for the two to merge, opening crypto markets to the masses.

It makes sense to us that the union of cryptocurrency and securities firms is more likely to be a success if it’s initiated by the cryptocurrency side of things. As complicated as they are, security firms and what they do are known. Crypto, on the other hand, is mostly known for being cryptic, for being an area that is both complicated and complex, even to those well down the rabbit hole.

We think this marriage of cryptocurrency exchange and securities services will most benefit huge numbers of retail investors. Expect a number of cryptocurrency enterprises to follow Coinbase down this road.

Once it obtains its broker-dealer license, an alternative trading system license and a registered investment advisor license, Coinbase will then seek approval from the SEC and the Financial Industry Regulatory Authority (FINRA) to offer blockchain-based securities.

Chief operating officer and president Asiff Hirji wrote in the company blog that Coinbase would have the ability to tokenize existing securities products, bringing cryptocurrency benefits to securities, including real-time settlement, transparent chain-of-title, and 24/7 trading.

“We believe this will democratize access to capital markets for companies and investors alike, lowering costs for all participants and bringing additional transparency and inclusion to the ecosystem,” Hirji wrote in the blog.

IN OTHER NEWS… • FROM BITSONLINE.COM

Controversial Crypto Dev and BCH Supporter Arrested for Joyriding in Stolen Armored Vehicle

IQ THOUGHTS:

Our take: Something as high profile and divisive as BCash needs a mascot, and we think we’ve found it in Joshua Yabut.

That’s not the beginning of a joke. Joshua Yabut, a staunch BCash supporter whose crypto and infosec handle is “movrcx,” took a drug-fueled joyride through Richmond, Va. on Tuesday in a stolen armored vehicle.

We’re able to laugh about this because no one was hurt in the incident, and there was no damage to property, although we can’t say for sure how it affected law enforcement egos.

Police could do nothing to stop Yabut’s somewhat speedy run around town in the 1960s-era vehicle command post. They followed him for 60 miles at speeds of up to 45 miles per hour before he stopped on his own.

Witnesses said Yabut then got out and strolled around before police subdued him with tasers and a dog.

He is being charged with driving under the influence of drugs, felony eluding police, and felony unauthorized use of a vehicle.

We have to wonder about the personality type that wants to break away and do just for sport something that could cause great damage. We’re not saying there’s any similarity between this brash act and efforts by the BCash crowd to eclipse Bitcoin with a bigger blocked hard fork.

We’re not saying that at all.