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According to a Financial Times article dated August 4th, the CEO of Coinbase, the US-based cryptocurrency exchange under the scrutiny of regulators due to lawsuits filed by the SEC, is not considering leaving the US market unlike many other crypto companies that are contemplating leaving the country due to regulatory uncertainty.
Cryptocurrency Companies Under Regulatory Radar
Tension between US regulators and crypto companies escalated with the SEC filing lawsuits against Binance and Coinbase in June for violating securities laws. In recent times, numerous crypto companies have faced multiple investigations by financial regulators, including the SEC. Coinbase is among the crypto companies that have been subjected to various investigations during this process.
The consecutive lawsuits led to speculation about crypto companies considering leaving the US. It was claimed that Coinbase, the US-based cryptocurrency exchange, would relocate its operational activities to another country in the near future. However, Coinbase CEO Brian Armstrong put an end to the speculation by stating that the company currently has no plans to leave the US.
Coinbase Will Not Leave the US Market
Although he previously made statements suggesting that the company could relocate its headquarters from the US to another country, Coinbase CEO Brian Armstrong has now backtracked on the issue. In a news article on August 4th, Financial Times discussed Coinbase’s company planning, which came under the radar of US regulators with the lawsuit filed by the SEC.
According to the Financial Times article, Coinbase, the US-based cryptocurrency exchange, is not considering leaving the US market unlike many other crypto companies that are contemplating leaving the country due to regulatory uncertainty. The article states that, according to Armstrong, the possibility of Coinbase leaving the US is currently not even on the table.
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