Coinbase's Armstrong Makes U-turn, Says Exchange Won't Leave US Market
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Coinbase will not relocate overseas as the exchange wants to stay in the US even though the country is a "little bit behind right now," the exchange's boss, Brian Armstrong, said in an interview with CNBC.

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The Coinbase CEO doubts that the SEC's current approach has anything to do with regulation, saying SEC Chair, Gary Gensler, is putting more efforts to curtail the market.

"But he's created some lawsuits, and I think it's quite unhelpful for the industry in the US writ large, but it also is an opportunity for Coinbase to go get that clarity from the courts that we feel will really benefit the crypto industry and also the US more broadly."

Armstrong noted other regions, including the European Union have already passed "comprehensive crypto legislation," adding the UK has been "incredibly welcoming."

Armstrong's new statements totally differ from what he had said before. In April, the Coinbase head said "anything is on the table, including relocating or whatever is necessary" as the regulatory environment for the industry in the US became less transparent.

Coinbase Launches International Exchange for Non-US Investors

As iHodl earlier reported, Bittrex left the US market in early April citing "continued regulatory uncertainty." The exchange added it's "not economically viable" for the platform to continue to operate in the country given the regulatory and economic environment.

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