According to a recent report by Bloomberg, Coinbase has explored the possibility of setting up a cryptocurrency trading platform in a jurisdiction outside United States agencies’ regulatory reach. The report suggests that the crypto exchange has discussed this potential move with institutional clients and market makers.
While the exchange only recently discussed establishing a crypto-trading platform outside the US regulatory sphere, the move would allow expanding its offerings to a global client base beyond its existing marketplace.
With increasing regulatory scrutiny and crypto-friendly banks shutting down operations less than a month apart, the climate for crypto platforms in the US has been worsening. In response to this crackdown against the industry, the largest crypto exchange in the US has taken steps to mitigate the impact on its operations.
A Solution For The Ongoing Regulatory Crisis For Coinbase?
Crypto companies in the US have been facing a challenging regulatory and banking environment, particularly in light of the Securities and Exchange Commission’s (SEC) recent allegations that certain…