Coinbase Expands to UK Amid Regulatory Uncertainty in the US
Coinbase, one of the largest crypto exchanges in the US, is focusing on expanding its presence in the UK as regulatory uncertainty looms at home. During his visit to the UK for the UK FinTech Week 2023, Coinbase CEO Brian Armstrong met with UK Treasury Economic Secretary Andrew Griffith to discuss various issues. Armstrong shared his concerns about UK banks blocking fiat payments to crypto companies and the Financial Promotion regime’s 24-hour “cooling off” period for crypto trades, which he believes harms real-world use cases and the formation of capital markets. In a recent blog post, Coinbase also highlighted the UK as one of its fastest-growing user markets. With the recent SEC investigation against Coinbase, some analysts, such as Real Vision CEO Raoul Pal, believe that Coinbase’s expansion efforts in the UK will pay off as the US regulatory landscape remains uncertain.
Clever Robot News Desk 20th April 2023