Coinbase Considers Move to UAE and UK Amid SEC Issues

May 9, 2023 at 06:51 AM GST 1 min read Exchange News

Coinbase explores expansion to the UAE and UK due to regulatory issues with the US SEC.
The crypto exchange is considering markets with a more favorable regulatory climate.
The UAE and the UK, known for their crypto-friendly policies, are potential beneficiaries.

Coinbase, the renowned crypto exchange, is possibly seeking more friendly regulatory environments due to the stringent approach of the US Securities and Exchange Commission (SEC). The company’s recent visits to the United Arab Emirates (UAE) and the United Kingdom (UK) have fueled such speculation.

The potential shift of Coinbase’s operations from the US could impact the country’s crypto market. Still, it presents a golden opportunity for the UAE and the UK. Both these nations are recognized for their positive attitude towards cryptocurrencies and may soon host one of the world’s leading crypto exchanges.

Coinbase was in the UAE this week.

The UK two weeks ago.

Seems pretty clear that Coinbase is tired of being treated like criminal garbage by the SEC.

USA losing Coinbase will be a brutal but completely deserved L.

Big win for UAE or UK though. pic.twitter.com/vHkQ8UoDWT
— Lark Davis (@TheCryptoLark) May 9, 2023

Coinbase’s exploration of new markets follows a year-long tug-of-war with the SEC. The regulatory body’s handling of the crypto industry has drawn criticism from various businesses, including Coinbase. If the regulatory climate in the US remains hostile, the global crypto landscape could witness a significant shift.

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Countries that show openness towards crypto, like the UAE and the UK, could become new hubs for digital asset platforms. The potential exodus of Coinbase from the US may be a setback for the country but a massive win for the recipient nation. The presence of a leading crypto exchange like Coinbase can catalyze local crypto industry growth and economic stimulation.

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