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Meghalya Pant 159 days, 0 hours ago


The new target markets for Coinbase are part of the company’s second phase of development, branded “Go Broad, Go Deep.

Coinbase Expansion Plan

Coinbase (COIN) announced its intention to pursue global growth, with a focus on getting licenses in significant financial jurisdictions “that have implemented obvious rules” for the crypto industry. The company has also kept the European Union, the United Kingdom, Canada, Brazil, Singapore, and Australia as near-term priorities.

In April, CEO Brian Armstrong stated that “all things were on the table” for the Nasdaq-listed business, including moving from its current location in the United States owing to a lack of regulatory certainty in the nation.

He stressed in August that leaving the United States is “not even in the scope of possibility” for the time being.

Coinbase 🛡️📞 on Twitter: "Globally, countries are vying to become crypto hubs. Regulatory clarity has emerged in the EU, UAE, China (HK), Singapore, Australia and Canada, to name a few. / Twitter"

Globally, countries are vying to become crypto hubs. Regulatory clarity has emerged in the EU, UAE, China (HK), Singapore, Australia and Canada, to name a few.

“All over the world, movement on crypto-forward regulation has been generated, except in the United States, which is choosing for an approach of executing current laws and new regulations through the courts,” the pair said.

They also stated that the government is “sidelining itself” on crypto laws, putting its influence in jeopardy.

“We are committed to helping in the modernizing of the global financial system in order to offer greater monetary liberty and possibilities, and we are not going to remain quiet just because the United States is,” they wrote.

The cryptocurrency exchange is facing regulatory action in its own country, with the Securities and Exchange Commission charging it with selling unregistered securities and running unlawfully.

Phase 2 of “Go Broad, Go Deep” Begins

The new target markets for Coinbase are part of the company’s second phase of development, branded “Go Broad, Go Deep.”

It stated its aims to form collaborations with both international and local banks and payment service providers to grow its fiat platform and ensure compliance with its governance mechanisms.

Its political and public relations activities will also be stepped up in the run-up to the EU elections in June.

It has announced intentions to work with the G20 to develop global crypto standards, and it will record a “scorecard” of each country’s crypto regulatory performance.

Coinbase appears to be centering its G20 lobbying activities on Brazil, which will preside over the G20 in 2024.

Coinbase launched its business in Brazil in March, and as per the blog post, co-founder and CEO Brian Armstrong will travel later this year to “connect with important decision-makers and stakeholders.”

Coinbase Upcoming Activities

  • Introducing new goods and services, including customized projects, to enter or enhance our position in a wide variety of international markets.
  • Announcement of particular relationships with important financial industry, technology, and telecommunications companies.
  • Engaging with top government leaders and regulators to assist them in developing their plans for crypto support and regulation.

Coinbase Co-founder and CEO Brian Armstrong recently authored an op-ed in which he discussed the importance of the United States taking the lead in cryptocurrency.

Brian opted to establish the firm in the United States because he believes that America should be at the cutting edge of efforts to modernize our financial system and make it quicker, more effective, and simpler to use.

Coinbase is developing one of the best services and products in leading efforts that encourage knowing your customer rules, money laundering prevention laws, and safeguarding customers’ tools, to advance this work and drive future development.

Closing Thoughts

Coinbase thinks that the crypto industry and the US government should work together to change its financial system, especially by offering the same level of clarity and assurance that governments across the world do.

It will broadcast the commercial below as part of its continuing integrated public education campaign “It’s Time to Update the System,” which underlines how the United States is slipping behind on indicators related to financial freedom.

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Coinbase Plans For Expansion In The Non-US Markets Soon was originally published in Invest Gaming Journal on Medium, where people are continuing the conversation by highlighting and responding to this story.

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