Leading US-based cryptocurrency exchange Coinbase has acquired regulatory clearance for operation in Bermuda, potentially enabling the company to launch a crypto derivatives platform. The report comes after Bloomberg and The Block revealed that Coinbase was seeking to offer crypto perpetual swaps on an offshore platform. The blog post announcing Coinbase’s regulatory clearance did not mention any such project. The company highlighted that it was expanding internationally, setting up hubs in Singapore, Brazil, Canada, the United Arab Emirates, the UK, and the EU. Frustrated by regulatory uncertainty in the US, Coinbase CEO Brian Armstrong has indicated that the company may relocate to a more accommodating location. Armstrong has criticised the Securities and Exchange Commission for failing to establish a clear regulatory framework for the industry that meets the agency’s compliance requirements. Coinbase has already been informed by the SEC that it intends to initiate legal action against the exchange.
Source link
#Coinbase #Potentially #Launch #Offshore #Derivatives #Platform
