Coinbase is considering setting up a digital asset exchange outside the United States amid increasing regulatory pressure and a souring banking climate for crypto firms.
The largest cryptocurrency exchange in the U.S. has contacted its institutional clients about plans to establish a new crypto trading platform offshores, Bloomberg reported, citing three people familiar with the matter.
The report added that during talks with market makers and investment firms, the crypto exchange suggested setting up an alternative venue, away from the main Coinbase marketplace, for global clients.
Coinbase has not yet decided where the new platform might be based. Without confirming the plans, a Coinbase spokesperson said the exchange assesses geographic options and meets “with government officials in high-bar regulatory jurisdictions” as part of its mission to push for global crypto adoption.Read more on cryptonews.com