The latest statement passed by Coinbase’s CEO confirmed that the exchange will not explore ways to shift its operations outside the US.
Coinbase is a US-based Nasdaq-listed crypto exchange. The majority of the crypto traders in the US prefer Coinbase’s crypto services, as the exchange always follows all the rules to remain in compliance with the financial regulators. In June of this year, the United States Securities Exchange Commission (SEC) sued this crypto exchange over providing unregistered securities offerings.
Since the beginning of this year, some people claimed that the Coinbase exchange may expand services out of the US so that it can leave the US market in a bad situation. At the time the situation for the Coinbase exchange was not bad.
But as we know that the SEC sued Coinbase in June, so the current situation for Coinbase is not good. In the present time, Coinbase representatives are providing all kinds of facts & information in the court that Coinbase always followed rules & laws but still, the SEC body forcibly took legal action against the exchange.
Recently some people in the crypto space claimed the exchange may now explore ways to leave the US market, as the current situation for this exchange is very bad. In response to such claims & rumours CEO Brian Armstrong said that they will not leave the US market.
Coinbase CEO also confirmed that the exchange’s crypto services will always remain dedicated to US crypto Investors.
Armstrong admitted that the situation is really bad but at the same time, he confirmed that there is no contingency plan to push the company’s headquarters out of the United States.
“It’s not even in the realm of possibility right now. There is no break-glass plan. We’re staying in the United States,” Coinbase CEO said.