Just-In: Coinbase ($COIN) Jumps 2% As CEO Hints Moving Offshore
Crypto News: Coinbase Global, the U.S. largest crypto exchange and U.S. Securities and Exchange Commission (SEC) seems to be heading to a major legal battle over clarity around Digital Crypto Assets. However, Brian Armstrong, CEO of Coinbase hinted that it could move offshore if the financial regulators fail to provide regulatory clarity.
Also Read: Key Agendas In SEC Chair Gensler Prepared Testimony Before US House
Coinbase To Leave U.S.?
The global digital asset market is on a recovery rally as Bitcoin’s (BTC) price breached the crucial $30K level. The cumulative crypto market cap stands at around $1.27 trillion. Amid the recovery, the industry leaders are hitting back at the U.S. SEC and CFTC demanding regulatory clarity in order to operate legally.
According to a report by Reuters, Coinbase Chief mentioned that there is a major need for clear regulation and legislation onshore. He added that if leaders like UK and U.S. fails to provide clarity, crypto firms might go on to build offshore havens.
Coinbase Global Inc (NASDAQ: COIN) price registered a surge of almost 2% in the pre market. It is up by 1.31 points to trade at $69.03, at the press time. Read More Crypto News Here…
Earlier, Coingape reported that Coinbase might be the next on target of the US SEC after Bittrex. It mentioned that Ex SEC officials claimed that other major crypto exchanges in the U.S. might face similar charges.
Also Read: Critical Vulnerabilities in iOS and macOS Risks Crypto Assets Loss
Coinbase CEO in Tweet mentioned the growth of crypto over the past decade. He stated that aroun 200 million to 300 million people have tried crypto in the last 10 years. However, if we go by this rate then in the next 10 years there will be around 2 billion-3 billion people who would be using crypto. He compared this to the internet adoption.
- Expert Flags Pi Network Team as Source of Selling Pressure After Reported 1.2M PI Dump
- Ripple’s Chris Larsen Expands XRP Realized Profit to $764M Amid Evernorth Deal
- Just In: Hyperliquid Strategies Eyes $1B Capital Raise, Plans HYPE Token Accumulation
- Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple
- How the Crypto Market Could React to the Next Fed Meeting on October 29?
- XRP Price Classical Pattern Points to a Rebound as XRPR ETF Hits $100M Milestone
- Chainlink Price Eyes $27 Rebound as Whales Accumulate 54M LINK
- Pi Network Price Wedge Signals a Rebound as Key Upgrades Raise Utility Hopes
- Solana Price Eyes $240 Recovery as Gemini Launches SOL-Reward Credit Card
- XRP Price Prediction Amid Evernorth’s $1B XRP Treasury Plan – Can XRP Hit $5?
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
