Crypto Company Coinbase Expands Wings To Other Countries Outside The US

Coinbase prioritizes countries that have clear crypto regulations. (Photo; Azcoinnews)

JAKARTA - Vice president Coinbase for international businesses and international policy expressed their dissatisfaction with the situation of cryptocurrency regulation in the United States. In an effort to continue to expand cryptocurrency exchange services globally, Coinbase firmly prioritizes markets that have a clear regulatory framework.

In an effort to spread its wings, Coinbase prioritizes countries outside the United States that have clear regulations regarding the crypto industry. Several countries that are the main focus of this strategy include the European Union, UK, Australia, Canada, and Singapore. Clearness in cryptocurrency regulation in these areas becomes very important to carry out operations of these exchanges.

Coinbase's vice presidents for international businesses and international policy criticized the regulatory situation in the United States. They argue that, although many other countries have stepped forward by issuing clear rules for cryptocurrencies, the United States is not.

On the other hand, the country appears to be trying to implement existing regulations through legal processes, this condition makes it difficult for crypto exchanges to run their business there. One of their statements is as follows: "Every part of the world sees developments in cryptocurrency regulation, except for the United States which chooses to implement existing and new regulations through the court process. With this attitude, the United States is at risk of losing its influence in the future of the global financial system."

The Securities and Exchange Commission (SEC) has sued Coinbase several times. The SEC recently sued Coinbase for alleged violations of brokerage laws by offering unregistered securities. Due to a strict approach to regulation, Coinbase's vice presidents believe that the United States is at risk of losing its position in the cryptocurrency industry.

The second phase of Coinbase's 'Go Broad' strategy highlights an open market to regulatory innovation. Coinbase actively considers the European Union as the location for its hub, demonstrating its commitment to building a strong presence in this market.

In addition, Coinbase plans to introduce derivative products, including International Exchanges intensively with the Monetary Authorityung. The company upholds legal compliance in all countries they operate in, by adhering to the local regulatory framework.

Coinbase is also working to collaborate with G20 member countries and major financial centers to set global standards for the cryptocurrency industry. Coinbase recognition of Brazil's important role in cryptocurrency regulation and plans for the visit of their founders and CEO Brian Armstrong to Brazil and Canada by the end of this year to interact with key stakeholders and decision makers.

Over the past six months, since embarking on its expansion mission in the global financial system, Coinbase has made significant efforts to make significant achievements. This includes expanding its operations to various countries, with a particular focus on progressive markets in regulations such as Singapore, Brazil, and Canada.

Coinbase also introduces a variety of products that are efficient and easily accessible through strategic partnerships. The company has gone a step further by integrating its platform with payment gateways and a trusted financial system in various jurisdictions.