It’s been a little over a week since Coinbase announced that it was exploring the addition of five new digital assets to its platform, including the controversial privacy coin Zcash (ZEC). At the time of the announcement, Coinbase said that it was “continuing to explore the addition of new assets”, and that it would make “a public announcement if and when they are listed on our platform.”
This led many to believe that the other four coins under consideration – Basic Attention Token (BAT), Cardano (ADA), Stellar Lumens (XLM), and Zcash – would soon be added to Coinbase. However, as of today, none of those coins have been added to the platform.
This has led some to speculate that Coinbase may have changed its mind about adding new assets, or that the process is taking longer than expected. However, there is another possibility: that Coinbase is waiting for approval from regulators before adding any new assets.
There have been reports of unauthorized trading activity associated with the Voyager Token (VGX) on Coinbase. It is important to note that this token is not officially supported by Coinbase and may be subject to heightened risk due to lack of regulation or oversight.
Additionally, it is important to understand that trading in cryptocurrencies carries significant risk, including the risk of total loss of capital. It is therefore recommended that you conduct your own research and fully understand the nature of any cryptocurrency before choosing to invest in it.
This theory is given credence by the fact that one of the five coins under consideration, Zcash, is not yet available on any major US exchanges. If Coinbase were to list Zcash today, it would likely be the first major exchange to do so.
Given the regulatory uncertainty surrounding Zcash, it makes sense that Coinbase would want to wait for approval from the US Securities and Exchange Commission (SEC) before listing the coin. The SEC has yet to approve a Bitcoin ETF, and it is unlikely to do so in the near future.
If Coinbase is indeed waiting for regulatory approval, it is possible that we could see some or all of the five coins listed on the platform in the coming months. In the meantime, investors will just have to wait and see what happens.