- CEO Brian Armstrong says Coinbase is not going to transfer operations abroad.
- The cryptocurrency trade is all for investing extra within the UAE.
- On the time of writing, coinbase reserves are near 70%.
Coinbase International Inc is within the highlight this morning after CEO Brian Armstrong confirmed that the cryptocurrency agency just isn’t contemplating an exit from the US.
Coinbase has no plans to maneuver abroad. We are going to at all times be concerned within the US.
Armstrong slams SEC for cracking down on cryptocurrency
Armstrong continued to criticize the Securities and Trade Fee for the regulatory uncertainty that has left the U.S. behind in cryptocurrencies.
The SEC is a little bit of an outlier right here. There’s form of a lone campaign, if you’ll, with Gary Gensler, who’s the chair over there, and he is been extra anti-crypto for some cause.
The cryptocurrency market information comes simply days after Coinbase International reported its first-quarter monetary outcomes that far exceeded Road estimates.
Coinbase inventory is up practically 70% yr over yr.
Coinbase International Inc to speculate extra in UAE
The US Securities and Trade Fee has but to formally reply to his feedback on Monday.
CEO Armstrong first hinted at the opportunity of a transfer final month, just a few weeks after the crypto trade obtained a βWells discoverβ from the SEC. On CNBC’s Capital Connection at present, he mentioned:
I do not suppose (Gary Gensler) is making an attempt to control the trade a lot as restrict it. He has filed a number of lawsuits and I feel it isn’t good for the US trade in any respect.
The CEO additionally confirmed that Coinbase was all for investing extra within the United Arab Emirates. He praised the European Union and the UK for additionally favoring cryptocurrency-related laws.
