Last week world's largest cryptocurrency exchange, brokerage and wallet platform, has added support for ERC-20 Tokens and Ethereum Testnet.
The Coinbase officials told to its investors and users about intregation of Etherium classic and also declared that the mid-term strategy of the company is to eventually support the entire ERC-20 token standard of Ethereum,
including independent blockchain projects and initial coin offering (ICO) tokens.
The general maneger and vice president of Coinbase, Mr. Dan Romero, acknowledged that the company’s integration of
Ethereum Classic could come across as a surprising decision to the majority of traders and users. Especially, in the US, it's utmost priority of the company to integrate digital assets that in no way can be categorized as securities.
The US Securities and Exchange Commission (SEC) officially made a statement that this is the first time in the history,
Bitcoin and Ethereum are not securities. Ethereum hard fork with the same decentralized and transparent characteristics as Ethereum, the clarification of the SEC automatically meant that ETC is also, by definition, not a security.
Recently reported by media, William Hinman, the Director of Corporate Finance at the SEC, said at the Yahoo Finance All Markets Summit:
“Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions. And, as with Bitcoin, applying the disclosure regime of the federal securities laws to current transactions in Ether would seem to add little value.”
“We already automatically show you popular ERC20 tokens that you own inside your Toshi wallet. With this latest release, we now we let you add custom ERC20 tokens that are not yet in our database,” the Toshi team said, allowing users and investors to store ERC-20 tokens freely, similar to other platforms such as MetaMask."
Coinbase mid-term vision is to support the ERC-20 token standard, which includes ICO tokens and Ethereum-based blockchain projects, was validated by the recent announcement of the US Securities and Exchange Commission.
Paradex acquisition, and the new features added by Toshi, Coinbase’s native Ethereum app, has demonstrated the confidence of Coinbase of listing tokens.