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U.S. Crypto Exchange Coinbase Secures Bermuda License
Coinbase Global Inc (COIN.O), one of the largest crypto exchanges in the U.S, has announced that it has secured a license to operate in Bermuda. This move is part of the company’s wider strategy to expand globally and tap into new markets.
In recent years, Coinbase has been on a mission to expand its presence around the world, and Bermuda represents a major milestone in that journey. The company has been vocal about its desire to operate in regions where regulations are more friendly towards cryptocurrencies.
The move to secure a license in Bermuda is particularly significant given the recent regulatory challenges faced by crypto firms in the U.S. and other major markets.
The Importance of Regulatory Clarity for Crypto Firms
Coinbase CEO Brian Armstrong has been a vocal advocate for regulatory clarity when it comes to cryptocurrencies. In a recent tweet, Armstrong stated that unless the U.S. and UK create clarity about regulation for crypto, firms will develop in “offshore” havens.
This sentiment has been echoed by many in the crypto industry who argue that the lack of regulatory clarity is hindering the growth of the industry. Without clear guidelines, it is difficult for companies to operate and for investors to…
