American cryptocurrency exchange Coinbase is reportedly in talks with its institutional clients about setting up a new trading venture overseas as crypto regulation in the US is still opaque despite an intensified crackdown on the industry.
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According to a report from Bloomberg, the San Francisco-headquartered crypto exchange has reached out to market makers and venture firms about establishing a new trading platform outside the US for global clients. Coinbase has yet to make the decision, people close to the matter told the media.
Bloomberg pointed out that during an earnings call in February, Coinbase's Chief Operation Officer, Emilie Choi, said that "international expansion is going to continue to be a very core part of how we operate."
The news comes shorty after Coinbase CEO, Brian Armstrong, stressed in an interview with Bloomberg TV that his top priority in 2023 is the regulatory environment as he wants to make sure the crypto market in the US is moving in the right direction.
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