Exclusive: Cryptocurrency exchange Coinbase readies stock market listing-sources

A man stands near an advertisement of a cryptocurrency exchange in Tokyo, Japan March 30, 2018. REUTERS/Toru Hanai/FilesREUTERS: cryptocurrency exchange to go public, according to people familiar with the matter.

The listing would need the U.S. Securities and Exchange Commission's blessing. Were the securities watchdog to greenlight it, it would represent a landmark victory for cryptocurrency advocates vying for its endorsement.While the SEC has said some cryptocurrencies may be considered securities and be subject to regulation, it has yet to issue specific guidance on the vast majority of virtual coins.

Coinbase, which was valued at more than US$8 billion in its latest private fundraising round in 2018, is exploring going public via a direct listing instead of a traditional initial public offering later this year, one of the sources said.

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