Brian Armstrong has shown an unwavering commitment to the US market, despite many cryptocurrency companies ready to leave the country due to the threat of lawsuits from federal regulators. Armstrong emphasized that Coinbase will continue to serve U.S. customers and provide cryptocurrency-related services.
According to Armstrong, the company has never considered leaving the U.S. permanently. Coinbase has no contingency plan to move its headquarters out of the United States. Though back in April, Armstrong hinted that the exchange could leave the U.S. market if local financial regulators don’t provide clarity on crypto regulation.
Late last year, Coinbase received a license from the Irish regulator to operate in the country, and also secured approval from the Monetary Authority of Singapore (MAS). In April, Coinbase received a license to launch a cryptocurrency marketplace in Bermuda. This sparked heated discussions in the crypto community and rumors as if the exchange was preparing to move to another jurisdiction. However, Armstrong reassured users that Coinbase only obtains licenses in other countries to expand its business internationally.
Coinbase general counsel Paul Grewal recently said the exchange will file a motion with the court to dismiss a lawsuit by the U.S. Securities and Exchange Commission (SEC) accusing the platform of failing to register as a broker and trading in unregistered securities.