Crypto News: Coinbase Global, the largest crypto exchange in the US and the US Securities and Exchange Commission (SEC) appear to be headed for a major legal battle over clarity around Digital Crypto Assets. However, Coinbase CEO Brian Armstrong hinted that it could go overseas if financial regulators don’t provide regulatory clarity.
Also Read: Key Agendas in SEC Chairman Gensler Prepared US House Testimony
Coinbase To Leave US?
The global digital asset market is in a recovery rally as Bitcoin (BTC) price has crossed the crucial $30,000 mark. The cumulative crypto market cap is around $1.27 trillion. Amid the recovery, industry leaders are hitting back at the US SEC and CFTC demanding regulatory clarity to operate legally.
According to a Reuters report, Coinbase Chief said there is a great need for clear regulation and legislation on land. He added that if leaders like the UK and US fail to provide clarity, crypto companies may continue to build offshore havens.
The price of Coinbase Global Inc (NASDAQ: COIN) registered an increase of almost 2% in the pre-market. It is up 1.31 points to trade at $69.03, at the time of writing. Read more crypto news here…
Previously, CoinGape reported that Coinbase could be the next target of the US SEC after Bittrex. It mentioned that ex-SEC officials claimed other major crypto exchanges in the US could face similar charges.
Also Read: Critical Vulnerabilities in iOS and macOS Risks of Crypto Asset Loss
Coinbase CEO in Tweet mentioned the growth of crypto over the past decade. He stated that about 200 million to 300 million people have tried crypto in the past 10 years. However, if we keep up this pace, there will be about 2 billion to 3 billion people using crypto in the next 10 years. He compared this to internet adoption.
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This post Coinbase ($COIN) Jumps 2% as CEO Hints Moving Offshore
was published first on https://coingape.com/crypto-news-coinbase-coin-price-drops-3-as-ceo-hints-moving-offshore/
