Coinbase remains dedicated to serving the U.S. despite global expansion

Coinbase remains dedicated to serving the U.S. despite global expansion Coinbase crypto cryptocurrency

- Brian Armstrong, the CEO of Coinbase – the largest cryptocurrency exchange in the U.S. – has walked back statements that the exchange would consider moving to a more welcoming jurisdiction if the regulatory landscape in the U.S. didn’t improve. However, he continued to criticize the Securities and Exchange Commission’s approach to reining in the crypto industry.

The focus of Gensler’s campaign against the crypto industry centers around the classification of digital assets, virtually all of which the SEC Chair maintains are securities. Coming from this view, exchanges like Coinbase that offer investors access to these assets are selling unregistered securities, which falls squarely under the enforcement purview of the SEC.

“Coinbase is not going to relocate overseas,” Armstrong said. “We’re always going to have a U.S. presence [...] But the U.S. is a little bit behind right now.” While the exchange remains dedicated to serving the U.S. public, it also plans to continue expanding its international investments, with Armstrong saying they are “very interested” in the United Arab Emirates as a country to do more investment in.

According to a blog post about the trip, Coinbase is in talks with regulators in the Abu Dhabi Global Market and Dubai’s Virtual Assets Regulatory Authority as part of efforts to potentially expand into the region.

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