(Reuters) - Coinbase Inc has started plans for a stock market listing that could come as early as this year, making it the first major U.S. cryptocurrency exchange to go public, according to three people familiar with the matter.
The listing would need the U.S. Securities and Exchange Commission's (SEC) blessing. Were the watchdog to greenlight it, it would represent a landmark victory for cryptocurrency advocates vying for mainstream endorsement.
Coinbase could pursue the listing later this year or early next year, the sources said, cautioning that the plans are still subject to change. The company has not yet registered its intention to go public with the SEC, but has been in talks to hire investment banks and law firms, the sources added.
The sources requested anonymity because the listing preparations are confidential.
A Coinbase spokesman said the company does not comment on rumors or speculation. The SEC declined to comment.
While the SEC has said some cryptocurrencies may be considered securities and be subject to regulation, it has yet to issue specific guidance on most virtual coins. Many cryptocurrencies have struggled to win legitimacy among mainstream investors and a general public wary of their speculative nature and potential for money laundering.