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Coinbase Targets Regulatory Clarity in International Expansion Plan
Coinbase is considering "markets that are enacting clear rules" for the crypto industry, with the EU, U.K., Canada, Brazil, Singapore and Australia its near-term priorities.
Sep 8, 2023, 9:07 a.m.
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Cryptocurrency exchange Coinbase (COIN) set out plans for an international expansion focusing on acquiring licenses in major financial jurisdictions "that are enacting clear rules" for the crypto industry, with the European Union, U.K., Canada, Brazil, Singapore and Australia as near-term priorities.
CEO Brian Armstrong said in April that "everything was on the table" for the Nasdaq-listed company, including relocating from its U.S. home due to the lack of regulatory clarity in the country. In August he clarified that leaving the U.S. is "not even in the realm of possibility" for now at least.
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In a Wednesday blog post, the company said it is "in the final stages of selecting the location" for its EU hub, saying it wishes to "leverage our being the most trusted brand in the crypto space ahead of the European elections in June 2024."
The exchange also plans to expand its derivatives offering to new markets and establish partnerships with banks and payment providers.
Read More: Coinbase Creates New Crypto Lending Service Geared Toward Large Investors
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