Amid a deteriorating regulatory and banking environment for national crypto companies, Coinbase plans to launch a new cryptocurrency trading platform outside the US.
According to Bloomberg, Coinbase Global has begun preliminary discussions with international market makers about plans to potentially create a new cryptocurrency trading platform overseas. It is planned that at the initial stage, the alternative platform Coinbase will focus on serving global customers. This measure will circumvent numerous restrictions imposed by regulators on the exchange’s main market in the United States.
According to Bloomberg sources, Coinbase has not yet decided on the place where the future platform and, possibly, the new headquarters of the exchange will be based. The UK, Ireland, Germany, Spain, Italy, France, the Netherlands and Switzerland are considered as alternatives.
Despite the increased display of its loyalty, Coinbase has a difficult relationship with US regulators. According to a number of experts, this situation is developing not so much because of the actions of Coinbase, but depends on the position of government bodies that negatively perceive the cryptocurrency industry itself.
In mid-March, on FOX Business, GradyLaw founder Tom Grady said that the exchange is facing numerous investigations and lawsuits from the government regarding possible violations of state and federal securities laws.
Earlier, the administration of Coinbase submitted to the court a private opinion in the case of Nakhil Wahi and Ishan Wahi, accused by the US Securities and Exchange Commission (SEC) of insider trading in securities. The exchange denies the presence of corpus delicti and demands to reconsider the court’s decision.
