Coinbase Secures Bermuda License as US Provides No Regulatory Clarity
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American cryptocurrency exchange Coinbase has received a regulatory approval from the Bermuda Monetary Authority (BMA) to operate in the region as the company is working on alternate escape routes if the US provides no regulatory clarity within the next few years.

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In a blog post, the crypto exchange said it had selected Bermuda as one of its international hubs as the BMA is a "highly respected and experienced financial regulator." Moreover, Coinbase is also in talks with Abu Dhabi's financial regulator on "a potential license for a regulated exchange."

However, the exchange didn't elaborate further on its plan about moving the platform overseas. Coinbase says it will continue establishing regulated entities and local operations in high-bar regulatory jurisdictions abroad "to focus on international growth."

Coinbase in Talks to Open New Exchange Overseas: Bloomberg

The news comes shortly after Coinbase CEO, Brian Armstrong, said the exchange doesn't rule out leaving the US market as the industry is not seeing that regulatory clarity it needs.

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