Brian Armstrong Hints at Potential Coinbase Relocation to UAE

  1. Brian Armstrong revealed that he is in the UAE for reasons undisclosed.
  2. Some people interpreted Armstrong’s tweet as a hint that Coinbase is moving its headquarters.
  3. The legal teams of Coinbase and Ripple met recently to discuss crypto regulation in the US.

Coinbase CEO Brian Armstrong revealed that he is currently visiting the United Arab Emirates (UAE). So far, according to him, his visit to the said Gulf country is enjoyable.

As seen in the tweet above, the reasons for Armstrong’s pleasurable visit to the UAE are related to crypto. This may suggest that he is in the UAE for work. 

In addition, others are speculating that Armstrong is hinting that they are considering relocating Coinbase’s headquarters to the UAE. One person said that the tweet is a “subtle jab.”

It is no secret that Coinbase is struggling to flourish in the US given the country’s tough stance on crypto despite failing to provide sheer regulatory clarity for crypto firms. 

Recently, Coinbase took the US Securities and Exchange Commission (SEC) to court in an attempt to prod the latter to establish clear crypto guidelines. What is more, heads of the legal teams of Coinbase and Ripple have met to discuss issues related to crypto regulation.

For the time being, Coinbase remains a publicly-traded firm that aims to comply with all American laws and regulations applicable to crypto. However, should rumors of Coinbase moving its headquarters to the UAE prove true, it would take years before the second-largest exchange untangles itself fully from the US.

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Jesus Dawal Jr covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.