Coinbase exchange broadcast it is supporting the withdrawal of Bitcoin forks on its platforms. The information is contained in an April post on Medium, a social blog, and at the same time on the exchange’s personal blog.
According to the platform, the development gives room to customers to make ‘more easily withdraw assets associated with Bitcoin Forks across all Coinbase products’.
“We are not announcing support for any specific assets at this time. As always, we look at technical, operational, and legal considerations when deciding which Bitcoin Fork assets to support and will always state on our website which particular assets are supported,” the statement reads.
Talking on the importance of Bitcoin Fork to the products of Coinbase, especially Coinbase Custody. The statement reflects that Coinbase Custody aims to build infrastructure to support future Bitcoin forks, and it is possible to support more forked assets than GDAX or Coinbase for the foreseeable future.
According to the blog post, GDAX “will build infrastructure to support withdrawal of Bitcoin Forks for assets stored on GDAX at the time of the fork. Adding withdrawal support for a bitcoin fork does not mean the asset will also be added for trading. Assets that are listed for trading will be independently evaluated using the Digital Asset Framework.”
The Bitcoin Fork is going to be supported by Coinbase Index Fund, since any forked assets listed on GDAX is automatically added to Coinbase Index.
When Is Coinbase Adding Ripple?
Crypto lovers are expecting the addition of Ripple on Coinbase. Last month, the rumor that Coinbase is planning to add the altcoin soared its price, until Coinbase dispelled the rumor, saying there is no decision on adding a new asset for now.
“As of the date of this statement, we have made no decision to add additional assets to either GDAX or Coinbase. Any statement to the contrary is untrue and not authorized by the company.”
Coinbase Plans To Become An Alternative Trading System
The Wall Street Journal has reported on Friday, April 6, 2018, that Coinbase is in a discussion with the U.S. Securities and Exchange Commission to register as a legitimate broker-dealer company and electronic trading venue. The action is an aftermath of the U.S. regulators’ clarification on cryptocurrency.
Molly Jane is a Russian Literature major from California with a background in writing. She joins CurrencyTimes after working as a freelance journalist and blogger.