- The U.S. SEC has filed a complaint against the cryptocurrency exchange.
- As part of its growth strategy, Coinbase is focusing on several new priority markets.
Given the relative clarity of national crypto legislation, Coinbase has identified many nations outside the United States as potential future hubs for its business.
On September 6th, Coinbase’s international VPs Nana Murugesan and Tom Duff Gordon wrote a blog post identifying the European Union (EU), United Kingdom (UK), Canada, Brazil, Singapore, and Australia as “near-term priority markets.”
Strategic Expansion Plan
Moreover, they noted that these nations are “enacting clear rules” and promised that Coinbase will make these nations a priority by expanding in these regions. They also said the United States influence in the crypto industry is at danger since it is “sidelining itself” on regulatory matters.
The U.S. SEC has filed a complaint against the cryptocurrency exchange, accusing it of offering unregistered securities and conducting unlawful business. Also, as part of its growth strategy, Coinbase is focusing on several new priority markets.
It detailed its aims to form alliances with international and domestic banks and payment processors to increase its fiat ramps and guarantee that its governance systems are in accordance with applicable regulations. It will also step up its lobbying and public relations operations in anticipation of the European Union elections next June.
Moreover, it said that it would maintain a “scorecard” on the development of each country’s crypto regulation efforts and that it aims to work with the G20 in an effort to build global crypto standards. Also, it seems like Coinbase is directing the bulk of its G20 lobbying efforts at Brazil, which will preside over the G20 in 2024.
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