US-based cryptocurrency exchange CoinPass (NASDAQ: COIN ) is said to be in talks to offer the trading platform to its overseas clients. According to the latest reports, the trading platform has communicated with its institutional clients about the prospects for establishing a new platform. If this continues to be true, it makes perfect sense given the ongoing assault on the crypto market by US regulatory agencies. Not long ago major exchange Binance indirectly came under scrutiny through the Paxos BUSD offering enforcement action by the US Securities and Exchange Commission (SEC).
Where will the new Coinbase Global be created? The cryptocurrency trading platform has its presence in several countries although it has to deal with regulations in local jurisdictions. However, it appears that the company has not yet decided on the country in which it will launch the Coinbase Global entity. “Consistent with its mission to increase global crypto adoption, Coinbase is evaluating geographic options and meeting with government officials at high-level regulatory authorities,” the Coinbase official was quoted as saying by Bloomberg.
The report said that the management of the trading platform has contacted its clients - market makers and investment firms to discuss its intention to find an alternative venue for global business.
