Top US cryptocurrency exchange Coinbase has increased its focus on international markets amid regulatory uncertainty in the United States, according to the company’s vice president of international policy.
In a recent interview on Zebu Live, Tom Duff Gordon notes that international expansion is becoming “increasingly important” for the exchange.
“We want to work with everyone because we believe that the United States is a really important market. We need to achieve that [regulatory] clarity. It may not happen tomorrow, but I think we are on the right track to achieve it.
But look, there are only 300 million people in the United States. [Coinbase CEO] Brian Armstrong’s big vision… is to attract a billion people to cryptocurrencies. It is a question of economic freedom. Either way, we can’t just do this in America. That’s why we’re now adopting this “international first” mentality.
The U.S. Securities and Exchange Commission (SEC) sued Coinbase in June, accusing the company of operating as an unregistered stock exchange, broker-dealer, and clearing agency.
Last month, the company successfully registered as a cryptocurrency exchange and custody wallet provider with the Bank of Spain. It also gained approval from the Bermuda Monetary Authority (BMA) to offer digital asset perpetual futures to investors outside the US.