Coinbase Threatens To Move Its Base Outside US, Cites Lack of Regulatory Clarity
Coinbase may consider moving its headquarters outside the US unless the country changes its approach to regulation.
"Anything is on the table, including, you know, relocating or whatever is necessary," said Coinbase CEO Brian Armstrong at a fintech conference on Tuesday.
"In late March, Coinbase was notified by the US Securities and Exchange Commission that the regulator plans to bring an enforcement action against the exchange."
“I think if a number of years go by where we don’t see regulatory clarity emerge in the US, we may have to consider investing more in other regions of the world.”
"The company is talking “very, very actively” to policymakers and governments across Europe about where it may base its regional hub, according to Nana Murugesan, vice president of international and business development."
“It’s something that hopefully in the in the near term, like in the coming months, that we need to finalize, but there are lots of good options.”
The European Union is poised to approve its Markets in Crypto Assets directive (MiCA) on Thursday, and it will be implemented sometime in 2024. It is titled as "the most comprehensive crypto-specific legislation among developed global economies."