Daily Crypto News

Coinbase is planning to set up crypto trading platform outside US: Report

Cryptocurrency exchange Coinbase is reportedly planning to set up a crypto trading platform outside the United States, where it is currently headquartered.

According to a March 17 Bloomberg report, Coinbase discussed setting up the non-U.S. platform with some of its institutional clients. The reported move came amid many U.S. lawmakers and regulators taking aim at crypto firms for their perceived role in the failure of Silvergate Bank, Silicon Valley Bank, and Signature Bank.

U.S. regulators, including the Securities and Exchange Commission, have been cracking down on certain crypto companies in recent months, including Kraken for its U.S. staking services. Coinbase issued a notice to users in March that its staking program would continue despite the crackdown and “may actually increase.”

Related: The crypto industry has ‘already started’ moving outside US, says Ripple CEO

The new Coinbase venture would reportedly service global clients but does not yet have a confirmed location. Cointelegraph reached out to Coinbase but did not receive a response at the time of publication.

Read More: Coinbase is planning to set up crypto trading platform outside US: Report

Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.