Coinbase, a cryptocurrency exchange, is allegedly in the process of creating a crypto trading platform outside of America, its current home.
Bloomberg reported on March 17 that Coinbase had conversations with some of its institutional customers about establishing a platform outside the United States. This was in response to U.S legislators and regulators targeting crypto companies for their involvement in the breakdowns of Silvergate Bank, Silicon Valley Bank, and Signature Bank.
U.S. authorities, such as the Securities and Exchange Commission, have been taking more stringent measures regarding some crypto firms in recent times, including Kraken for its American staking services. Coinbase communicated to their customers in March that their staking program would stay active despite the stricter enforcement and could even become more widespread.
Coinbase’s new venture appears to be targeting a global clientele, but its exact location has not been confirmed. Cointelegraph contacted Coinbase for comment, but had not received a response as of the time of writing.
