When Crypto Exchange, which comes from the United States, Coinbae declares the process of system platform, official is the key of the company meeting the headquarters in Arab Emirates the United Trates.
In May 7, Coinbase said in CEI Bairos of US administrators “as a system change” for Exchange Crypto. According to the company, it is working with global market regulators Abu Dhabi and Dubai Virtual Assets Regulatory Authority in an effort to expand in the region.
“[The UAE is interesting to us as a place that can also be developed, an international location for Coinbase that can serve not only the Middle East, but also parts of Africa or other countries in Asia.” Armstrong said in Dubai. Fintech conference. May 8. “I think the United States is currently a little behind in terms of clear policy and some rhetoric from the top.”
On May 2, Coinbase announced the launch of Coinbase International Exchange, a platform that offers crypto trading services. The release comes as the US Securities and Exchange Commission may charge Coinbase with violations following the publication of Wells’ announcement in March. Although Armstrong has sometimes criticized the clarity of the law affecting digital assets in the United States, he told shareholders in a first-quarter call that he has no plans to move operations outside the country.
“The region emerged as a leader in the development of the web3 environment, making it an attractive place to consider investing,” said the Coinbase blog, referring to the United Arab Emirates. “The gap in other recognized rights means that their international counterparts, such as the United Arab Emirates, are racing to fill the legal gap.”
Before Wells’ announcement, Coinbase officials, including Armstrong, met with US lawmakers to discuss crypto laws in the country. Chief legal officer Paul Grewal said the company met with SEC officials “more than 30 times in nine months” in March, but received no details on its plans. The UAE has opened up opportunities for crypto business all the time, which means it is attracting capital and projects.
Dubai established a legal framework for cryptocurrencies and established a valuable asset management authority in March 2022, using different laws and regulations to use the Emirates Free Trade Zone.
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