Top US Crypto Exchange Coinbase Prioritizes International Expansion
Coinbase, the leading cryptocurrency exchange in the United States, is shifting its focus to international markets due to regulatory uncertainty at home. According to Tom Duff Gordon, the company’s vice president of international policy, expanding internationally is becoming increasingly important for Coinbase.
In an interview at Zebu Live, Duff Gordon emphasized the significance of the US market but also highlighted Coinbase CEO Brian Armstrong’s vision to bring a billion people into crypto. Recognizing that this goal cannot be achieved solely in the US, Coinbase is adopting an “international first” mentality.
Regulatory Challenges and Recent Progress
In June, Coinbase was sued by the US Securities and Exchange Commission (SEC) for allegedly operating as an unregistered securities exchange, broker, and clearing agency. However, the company has been making strides in regulatory compliance and international expansion.
Last month, Coinbase successfully registered as a cryptocurrency exchange and custodian wallet provider with the Bank of Spain. It also obtained approval from the Bermuda Monetary Authority (BMA) to offer perpetual digital asset futures to non-US investors.
Hot Take: Coinbase Expands Its Global Reach
Coinbase’s decision to prioritize international markets reflects the growing importance of global expansion in the cryptocurrency industry. With regulatory uncertainty in the US, Coinbase aims to tap into a broader user base and fulfill its vision of bringing economic freedom through crypto to a billion people worldwide. By obtaining regulatory approvals in different jurisdictions and focusing on international growth, Coinbase is positioning itself as a leading global player in the crypto space.
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