Coinbase Stock (NASDAQ:COIN)
According to many media sources, Brian Armstrong, the Chief Executive Officer of Coinbase Global (NASDAQ:COIN), said on Tuesday that the cryptocurrency exchange in San Francisco will consider moving outside of the United States if the country’s legal clarity for the developing area does not improve. As a result, Coinbase stock slightly declined today.
During Fintech Week in London, former Chancellor of the Exchequer of the United Kingdom George Osborne allegedly asked Coinbase stock CEO Brian Armstrong whether the company would consider relocating to the United Kingdom. Armstrong said, “Anything is on the table, including relocating or whatever is necessary.”
The comments from the CEO were made at the same time that the United States Securities and Exchange Commission (SEC) issued a warning to Coinbase, the biggest cryptocurrency exchange in the United States, which has around 100 million verified customers. The warning said the regulator recommended enforcement action against the firm for allegedly violating securities laws.
It is important to note that the Securities and Exchange Commission (SEC) and other regulatory bodies have been increasing the severity of their crackdown on illegal activity inside the cryptocurrency business. On Monday, for example, it accused another cryptocurrency exchange, Bittrex, of operating an unlicensed national securities exchange, broker, and clearing agency. The charges were brought against Bittrex.
According to a further statement by Armstrong, which was published by Bloomberg, “the United States has the potential to be an important market in crypto, but right now, we are not seeing that regulatory clarity needed.” “I believe that if several years pass and we don’t see regulatory clarity emerge in the United States, we may have to consider investing more in other regions of the world,” said the speaker.
At the end of March, it was reported that Coinbase was in talks with authorities about acquiring the proper license to continue operating in Canada. This comes when the country’s capital markets watchdog is attempting to tighten laws for such platforms.
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Author Shariq Khan 
