Coinbase to open cryptocurrency trading hubs outside the US: report


Establishment of a trading base outside the United States?

Major US crypto asset (virtual currency) exchange Coinbase is considering establishing a trading base outside the United States. 17, Bloomberg reported, citing three sources.

He is currently talking to corporate clients such as investment firms and market makers. U.S. regulations are believed to be behind it, and the company is looking for other locations to serve its global customers. However, it has not yet been decided whether or where a separate trading platform will actually be created.

market maker

A company that continuously buys and sells assets to provide liquidity so that transactions can be carried out smoothly in the market at all times. In Japanese, it is also called a “pricing trader”.

▶Cryptocurrency Glossary

Regarding this report, the cryptocurrency media “CoinDesk” posted the following comments from the person in charge of Coinbase.

We are also investigating geographic options and talking to highly regulated governments as we promote global adoption of cryptocurrencies.

Coinbase announced in January this year that it would suspend its Japanese cryptocurrency trading service. Meanwhile, according to its official website, it currently offers services in more than 100 countries, including Europe and Asia.

connection: What is the virtual currency exchange Coinbase | Information and points to note for investors

Criticizing U.S. Regulations

Not only in the United States, but in the wake of last year’s Terra scandal and the bankruptcy of FTX, regulatory authorities’ oversight of cryptocurrencies has become stricter around the world. After that, in the United States, banks that had transactions with virtual currency-related companies went bankrupt one after another.

connection: Severe shock in the virtual currency market, summary of Alameda shock and FTX turmoil

While some people praised the speed of the US authorities’ response to the bank’s bankruptcy, there was also a view that the speed of their response may be an attempt to suppress the cryptocurrency industry.

connectionUS Congressman questions FDIC over signature bank closure

In the United States, concerns remain about securities problems. The U.S. Securities and Exchange Commission (SEC) continues to crack down on staking services without showing clear standards. If certain services or stocks are considered securities and placed under regulation, there will be the advantage of enhanced investor protection, but at the same time, securities registration procedures and reporting obligations will be required. has the disadvantage of increasing the burden.

connection: US NY authorities sued virtual currency exchange KuCoin Ethereum claims to be securities

Coinbase Chief Legal Officer Paul Grewal appeared on the Decrypt podcast on the 15th, arguing that there are problems with the US SEC’s regulatory response. He also commented on concerns that the SEC crackdown could lead to the outflow of US companies overseas.

In other parts of the world, even those we consider to be allies, we have a very different conversation.

connection: US Coinbase, “We do not handle unregistered securities”

The post Coinbase to open cryptocurrency trading hubs outside the US: report appeared first on Our Bitcoin News.


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