Coinbase IPO to further legitimize crypto, but limitations remain By Cointelegraph

Coinbase IPO to further legitimize crypto, but limitations remain

In some ways, the Coinbase exchange is the poster child for the crypto industry. It has embraced — not fought — regulation, which sets it apart from most cryptocurrency exchanges while the firm’s trading app is praised for its ease of use. When JPMorgan Chase (NYSE:) decided to extend traditional banking services to crypto firms in the United States earlier this year — a precedent-setting move — it began with Coinbase and Gemini, another registered U.S. exchange.

Therefore, last week’s report that Coinbase filed a draft registration for an initial public offering with the United States Securities and Exchange Commission wasn’t really a surprise, but it is big news nonetheless — and not just because research firm Messari declared the 35-million-customer company could be valued at $28 billion.