Coinbase may leave the US due to lack of regulatory clarity

The boss of the American platform does not exclude a departure abroad if the regulators do not provide more clarity for the crypto. Coinbase recently received a wells notice of the SEC.

On Tuesday, during the fintech week in London, Coinbase’s CEO said the company may relocate its operations due to the lack of regulatory clarity for digital assets at United States.

Everything is on the table. Including, you know, moving or whatever is necessary,” Brian Armstrong said when asked by former Chancellor of the Exchequer George Osborne about a potential move to the United Kingdom.

The U.S. cryptocurrency exchange pioneer received a late March warningin the form of a wells notice, from the stock market watchdog SECwhich accuses it of violating securities laws in the United States.

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In recent months, the regulatory agency has sued several major U.S. crypto players like rivals Kraken and Gemini.

Recently, the SEC chairman was responding to calls from the crypto industry for more clarity. Useless, retorted Gary Gensler. The U.S. House of Representatives, however, is considering a new bill today to better regulate digital assets including stablecoins.

The US has the potential to be a major crypto market, but at the moment we don’t see the regulatory clarity that is needed. I think if a number of years go by and we don’t see regulatory clarity emerge in the US, we may have to consider investing more in other parts of the world,” Armstrong said.

March, Bloomberg reported that Coinbase was thinking of setting up a offshore trading platform.

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This week, the SEC has again launched a lawsuit against a major crypto exchange. It accuses Bittrex of offering regulated products without first registering with the SEC.

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