Coinbase Pro to Accept New Token Transfers

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Coinbase is rolling out the availability to transfer ARPA Chain, Bounce and Perpetual Protocol into users’ Coinbase Pro accounts, according to a company blog post.

This update, which commenced trading on Tuesday (Oct. 19), is a response to customers requesting the ability to trade more assets on the platform. With the listing process, Coinbase says it should also add more assets to the platform with time.

The blog notes that Coinbase has also added support for BadgerDAO (BADGER), Rarible (RARI), Function X (FX), Jasmy (JASMY), Wrapped Centrifuge (WCFG), Avalanche (AVAX), Adventure Gold (AGLD), Braintrust (BTRST), Rari Governance Token (RGT) XYO Network (XYO), DerivaDAO (DDX), (YFII), Radicle (RAD), COTI (COTI) and Axie Infinity (AXS).

The blog notes that all three of the new coins are Ethereum tokens that work with specific needs. The first token, ARPA Chain (ARPA), is a computation network, which powers privacy-preserving smart contracts, data storage and scalable off-chain transactions.

The other two tokens are Perpetual Protocol (PERP), a decentralized exchange for perpetual contracts, and Bounce (AUCTION), a decentralized auction protocol for token and NFT sales.

In other Coinbase news, the company has also recently asked the U.S. Congress for a regulatory change to assign oversight of cryptocurrencies to a lone agency after a long strife between the company and the U.S. Security and Exchange Commission.

Read more: Coinbase Asks Congress to Create Crypto-Regulator

Coinbase Chief Policy Officer Faryar Shirzad wrote an open post, in which he said the company’s goal is to “thoughtfully and respectfully engage in the debate, and to offer good-faith suggestions for how the U.S. financial regulatory framework should adapt to two critical developments: the blockchain-driven and decentralized evolution of the internet [and] the emergence of a distinctive asset class that is digitally native and empowers unique economic use cases.”

The proposal from Coinbase requests that Congress regulate digital assets in a separate framework, as the current rules are “inadequate” to the new specifics of the digital currencies.

Coinbase’s proposal adds that there needs to be a single regulatory agency handling those issues while also suggesting that there needs to be more regulations for both better transparency and to cut down on market manipulation.



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