Coinbase Licensed In Bermuda, Sparking Speculations The Exchange Could Exit The US » CryptoWhat

Speculations around tightening regulations in the US

The crypto economy is now speculating that the exchange could be exiting the US market, following what had been termed as ‘regulations by the enforcement,’ particularly from the Securities and Exchange Commission (SEC). Speaking in the UK earlier this week, CEO Brian Armstrong said concerning the matter that ‘‘anything is on the table, including relocating or whatever is necessary.’’

Besides Bermuda, Coinbase has also been making strides in other markets, including Canada, Abu Dhabi, Brazil, and the UK, as part of a ‘’go broad & go deep strategy,’’ according to the announcement. For instance, the exchange recently opened crypto on-ramp services in Brazil for easier access to digital assets with the Brazilian Real.

Coinbase said it hired a new country director, Lucas Matheson, and was working on a tech hub to promote the global product portfolio in the Canadian market. Similarly, in the UAE, which comprises Abu Dhabi, the publicly listed exchange has engaged the Abu Dhabi Global Market (ADGM) regulator for potential licensing.

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