Coinbase Is Weighing Setting Up Non-U.S. Trading Platform: Bloomberg
The search comes as the U.S. accelerates actions against the crypto sector in the wake of FTX’s collapse and the shutdown of three crypto-friendly banks.
By Helene Braun
AccessTimeIconMar 17, 2023 at 5:28 p.m.
Updated Mar 17, 2023 at 5:35 p.m.
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U.S.-based crypto exchange Coinbase is considering setting up a crypto-trading platform overseas and is discussing the move with institutional clients, Bloomberg reported, citing people familiar with the plans.
A decision hasn’t been taken on the location for such a trading platform, which comes as U.S. regulators are cracking down on crypto, Bloomberg said.
Regulatory action against the sector intensified after November’s collapse of crypto exchange FTX. The recent shutdown of Silvergate Bank, Signature Bank and Silicon Valley Bank, which were all in some way tied to crypto, alerted lawmakers even more.
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