[ad_1]
Cryptocurrency exchange Coinbase is reportedly planning to set up a crypto trading platform outside of the United States, where it is currently headquartered.
According to a March 17 Bloomberg report, Coinbase discussed non-US platform arrangements with some of its institutional clients. The reported move comes amid many US lawmakers and regulators targeting crypto firms for their alleged role in the failures of Silvergate Bank, Silicon Valley Bank, and Signature Bank.
US regulators including the Securities and Exchange Commission have cracked down on certain crypto companies in recent months, including Kraken for its US betting services. Coinbase issued a notice to users in March that its staking program would continue despite the crackdown and “may actually escalate”.
Americans love their stock. This is why we need to continue to stake blockchain accountants in the US pic.twitter.com/hPeM99LI3e
— Coinbase (@coinbase) March 16, 2023
Related: The crypto industry ‘has started’ moving outside the US, says Ripple’s CEO
The new Coinbase venture will reportedly serve global clients, but has no confirmed location yet. Cointelegraph reached out to Coinbase, but did not receive a response at the time of publication.
[ad_2]
Source link
