Coinbase (NASDAQ:COIN), the leading American cryptocurrency exchange, has set its sights on a European expansion amidst regulatory challenges at home, according to recent developments this Tuesday. The company's expansion strategy includes obtaining licensing under the Markets in Crypto-Assets (MiCA) regulations and registering in individual European Union (EU) states.
The firm's Vice President, Gordon, has guided the company in securing registration with Spain's central bank and expanding operations into Italy, Ireland, and the Netherlands. This move is seen as part of Coinbase's strategy to find a trustworthy regulator and access a talent pool for broader operations.
This expansion plan comes in the wake of CEO Armstrong's criticism of what he perceived as unfair regulations in the US. The company has been facing increasing scrutiny from American regulators, prompting it to consider other markets for growth.
The European expansion is expected to provide Coinbase with more regulatory clarity and access to a diverse talent pool, which it hopes will bolster its operations and presence across the continent.
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