Coinbase Reportedly Eyeing Global Expansion Amid Regulatory Scrutiny
- The exchange informed the agency there is no way it will register with the SEC.
- Coinbase said recently that the digital assets it lists are not securities in an amicus brief.
US-based crypto exchange Coinbase is apparently in discussions to establish a trading platform for its foreign consumers. Apparently, the exchange has been in contact with its institutional customers regarding the possibility of implementing a new platform.
With the current assault on the crypto sector by US regulatory authorities, it is not hard to see how this may be real and materialize. Relatively recently, the Paxos BUSD supply enforcement action by the U.S. Securities and Exchange Commission (SEC) brought indirect attention to the leading exchange Binance.
Increasing Global Crypto Adoption
The cryptocurrency trading platform operates in several countries but is subject to local laws and regulations. It would seem that Coinbase has not yet settled on a specific nation to commence its Coinbase Global operation.
According to Bloomberg’s report, a Coinbase representative was reported as stating:
“In line with its mission to increase global crypto adoption, it (Coinbase) assesses geographic options and meets with government officials in high-bar regulatory jurisdictions.”
The report stated the exchange’s management engaged with its customers along with market makers and investment companies to explain its objective of creating an alternate venue for worldwide operations.
Coinbase, the biggest cryptocurrency exchange in the United States, informed the agency there is no way it will register with the SEC despite the agency’s Chair Gary Gensler’s appeal for crypto exchanges to do so.
Moreover, Coinbase said on Monday that the digital assets it lists are not securities in an amicus brief filed in a lawsuit involving a former employee accused of insider trading and securities fraud for disclosing knowledge about future token listings on Coinbase.
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