Coinbase Inc., the largest cryptocurrency exchange, which is currently valued at $68 billion has decided to go public with a direct listing on the Nasdaq stock index on April 14, 2021. Coinbase is poised to become the most valuable cryptocurrency exchange in the world. Coinbase operates in the US, a country with significant regulatory hurdles.

Policy makers should support the legitimate aspects of cryptocurrency and financial technology. They should curb their excesses and abuses. These should be merit-based decisions.

The listing is launched directly to investors, instead of through a traditional IPO. In direct listing no shares are sold ahead of the debut and the company lists directly on the Exchange.

The company is valued around $68 billion this year (2021). It represents the latest breakthrough for acceptance of cryptocurrencies as an asset class.