Coinbase going international sparks community reactions: ‘Crypto is global’

cointelegraph.com:

Amid regulatory struggles in the United States, crypto exchange Coinbase has decided to expand its business abroad with a global platform. Following the news, crypto community members expressed their opinions, with some criticizing the Securities and Exchange Commission (SEC) and others expressing confidence in crypto’s future. 

On May 2, the exchange announced the launch of Coinbase International Exchange (CIE), which is a crypto derivatives platform catering to institutional investors. Trading in the exchange will be offered to institutional clients in eligible jurisdictions outside of the U.S.

It’s official! Coinbase International Exchange is here. Institutional traders in eligible non-US jurisdictions now have access to trade perpetual futures settled in USDC with up to 5x leverage. Read more about our announcement ⬇️https://t.co/vrIfK999om pic.twitter.com/E5ssl8NBz3

Coinbase has been preparing this move since March, as many U.S. regulators aimed at crypto firms for their perceived roles in the collapses of Silvergate, Silicon Valley Bank and Signature. 

As the company’s international exchange was launched, various community members expressed their support for Coinbase and crypto’s growth worldwide. Tyler Winklevoss, the CEO of Gemini, which also recently launched a global derivatives platform, tweeted that “crypto is global” and expressed that it’s important that everyone is leaning into this.

Meanwhile, a community member said that Coinbase's new move is a good step for crypto. "Crypto is the future and it is taking off, with or without certain countries who choose to over-regulate against crypto," they tweeted. On Reddit, a community member believes that Coinbase made a great decision. According to the Redditor, it's