28.01.2021

Coinbase Looks to Add Support for Telegram and 16 Other Digital Assets

On Sept. 19, cryptocurrency exchange Coinbase announced that it is considering the addition of a range of new assets; namely, Avalanche, Celo, Chia, Coda, Dfinity, Filecoin, Handshake, Kadena, Mobilecoin, NEAR, Nervos, Oasis, Orchid, Polkadot, Solana, Spacemesh, and Telegram.

San Francisco-based crypto exchange and wallet provider Coinbase has announced the support for Telegram and 16 additional digital assets.

Coinbase adds support for 17 digital assets

Coinbase added that it intends to explore assets that have not yet launched and which Coinbase may choose to support in the future.

Telegram, for example, recently released its Telegram Open Network (TON) testnet explorer and node software on its website. However, it has yet to distribute its network’s native token, GRAM, which is planned to happen two months from now.

Moreover, Coinbase emphasized that new tokens may not come online everywhere at the same time, given differing legal requirements. The blog post explained:

“We will add new assets on a jurisdiction-by-jurisdiction basis, subject to applicable review and authorizations.”

Coinbase Pro adds support for DASH trading

As Cointelegraph reported on Sept. 14, Coinbase announced that its professional trading platform Coinbase Pro had plans to launch support for DASH token. The launch of DASH trading started at 9 AM Pacific Standard Time on Sept. 17.

According to the announcement, DASH will be available in Coinbase’s supported jurisdictions, with the exception of New York State and the United Kingdom. Additional regions “may be added at a later date.”

Coinbase Considering Listing Telegram and Polkadot Cryptocurrencies Among Others

Coinbase has announced the possible addition of 17 new cryptocurrencies to its current line up.

According to a blog post from the exchange, Coinbase is exploring the addition of avalanche, celo, chia, coda, dfinity, filecoin, handshake, kadena, mobilecoin, NEAR, nervos, oasis, orchid, polkadot, solana, spacemesh, and telegram.

Some of those coins, including telegram, are not yet live.

As of now, Coinbase’s non-pro exchange lists bitcoin, bitcoin cash, ethereum, ethereum classic, USD coin, XRP, stellar, zcash, 0x, litecoin, and the basic attention token.

Earlier this week, cryptocurrency dash was added to Coinbase Pro following an investigative period.

Coinbase revised its listing criteria a year ago, stating “listing announcements will become more frequent.” The 17 new cryptos follow up on eight considerations from last month. Of the eight, only two-algorand and dash-were added to Coinbase Pro.

Even if added, cryptocurrency listings are dependent on jurisdictional compliance.

Breaking: US SEC Deems $1.7 Billion Telegram Offering Illegal, Orders Halt

The United States Securities and Exchange Commission (SEC) has announced that Telegram and the forthcoming GRM token constitute an unregistered digital token offering.

Per an Oct. 11 press release, the SEC has filed an emergency action and restraining order against Telegram and the Telegram Open Network (TON) in a complaint with Manhattan court.

The allegations

The full complaint alleges that Telegram and TON did not register their sale of GRM tokens, which the SEC considers securities and which, therefore, require registration with the SEC according to the Securities Act of 1933.

According to Stephanie Avakian:

“Our emergency action today is intended to prevent Telegram from flooding the U.S. markets with digital tokens that we allege were unlawfully sold.”

Other SEC actions

Earlier today, Oct. 11, Cointelegraph reported that the SEC, together with other U.S. regulatory agencies the Commodity Futures Trading Commission and the Financial Crimes Enforcement Network, issued a warning to crypto asset holders against violations of the Bank Secrecy Act, especially use of crypto in money laundering and terrorism financing.

Two weeks ago, Cointelegraph reported from an SEC hearing before the House Financial Services Committee, following which many questions remained as to who would be taking the lead on determining the status of cryptocurrencies, regulators or legislators. At the time, SEC Commissioner Robert J. Jackson Jr. told Cointelegraph:

“Is this going to be more of a legislative move or an SEC move? […] At the moment I don’t know.”

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