Coinbase, one of the leading global cryptocurrency exchanges, has set its expansionary ambitions on markets outside the United States, focusing on countries with clearer cryptocurrency regulations. In the latest statement, the company emphasizes its desire to expand operations in Europe, Canada, Brazil, Singapore, and Australia.
Coinbase, a globally recognized cryptocurrency exchange, recently signaled that markets outside the United States will be crucial for its expansion. The statement on September 6 indicated countries that will soon become a priority for the company. These are primarily countries of the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia.
The comment came as a result of observations that these countries are introducing “clear rules” in the field of cryptocurrencies. Coinbase plans to focus on obtaining licenses, registrations, and strengthening operations in these countries. Many countries are currently making progress in cryptocurrency regulations, but according to Coinbase representatives, the USA lags behind, enforcing existing regulations through the courts.
Coinbase duo, Nana Murugesan and Tom Duff Gordon, believe the USA is losing influence in the cryptocurrency sector. In their statement, they emphasized that they do not intend to remain passive in such a situation, even if their home country does not follow the rest of the world in this matter.
Regulatory issues are particularly important for Coinbase, which in the US faces allegations from the Securities and Exchange Commission. They are accused of selling unregistered securities and illegal activities.
The next stage of Coinbase’s development is called “Go Broad, Go Deep”. The company plans to form partnerships with global and local banks and payment providers to expand its fiat framework. These efforts will also be complemented by intensified lobbying activities, especially before the European Parliament elections next June.
Coinbase also plans to cooperate with G20, aiming to establish global cryptocurrency standards. Interestingly, the company is focusing its lobbying efforts in the G20 on Brazil, which will take over the presidency of this group in 2024. In March, Coinbase expanded its offering in Brazil, and according to information, co-founder and CEO Brian Armstrong will visit the country later this year to meet with key decision-makers and stakeholders.
Photo: Coinbase
