Cryptocurrency exchange Coinbase is reportedly planning to establish a cryptocurrency trading platform outside of the United States, where it is currently headquartered.
According to a Bloomberg report on March 17, Coinbase had discussions with some institutional clients about setting up a non-U.S. platform. The move comes as many U.S. lawmakers and regulators reportedly target crypto firms for their perceived role in the failures of Silvergate Bank, Silicon Valley Bank and Signature Bank.
U.S. regulators, including the U.S. Securities and Exchange Commission, have been cracking down on certain cryptocurrency firms in recent months, including Kraken’s U.S. staking service. Coinbase sent a notice to users in March that despite the blow, its staking program would continue and “may actually increase.”
