Coinbase Could Move Away From U.S. if No Regulatory Clarity: CEO Brian Armstrong
Coinbase (COIN) CEO Brian Armstrong indicated that the crypto exchange would consider moving away from the U.S. if the regulatory environment for the industry does not become clearer. "Anything is on the table, including relocating or whatever is necessary" he said after former U.K. Chancellor George Osbourne asked whether he could see Coinbase leaving the U.S. at Fintech Week in London.
Armstrong's comments come weeks after rival exchange Bittrex said it planned to exit the U.S. by the end of April, citing "the current U.S. regulatory and economic environment." Bittrex received a Wells Notice – a statement that the U.S. Securities and Exchange Commission's (SEC) Enforcement Division found evidence of legal violations – in March, general counsel David Maria told the Wall Street Journal. The SEC filed a lawsuit against the exchange on Monday. Coinbase received a Wells Notice from the SEC in March. Armstrong said Coinbase had met with the SEC "30 times" without getting feedback regarding the nature of its business before receiving the notice.
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