Coinspeaker
Coinbase to Expand to Singapore as US SEC Denies Answerability
Crypto exchange Coinbase is looking into relocating to Singapore as the United States Securities and Exchange Commission rejects the company’s requests for regulatory clarity.
The US SEC recently asked the judge to deny Coinbase’s bid to coerce the agency to answer Coinbase’s rulemaking petition. The petition was submitted last year asking for clarity on how securities laws applied to cryptocurrency.
Last month, Coinbase filed a lawsuit against SEC asserting that the agency was neither quick nor logical in offering a response to its petition. Moreover, the exchange is looking for an official notice-and-comment procedure that would enable the public to participate.
Coinbase CEO Brian Armstrong is considering migrating offshore owing to a lack of clarity on crypto mandates in the United States. The firm is exploring options in the Bahamas, The United Arab Emirates, and Europe as suggested locations for its h
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