US Crypto Exchange Coinbase Secures Bermuda License

Coinbase has been granted a license by the Bermuda Monetary Authority, allowing the US crypto exchange to operate as a digital asset business there. The exchange is also in the process of obtaining a license in Abu Dhabi. Reuters reports: Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in "offshore" havens unless the U.S. and UK create "clarity about regulation" for crypto. Coinbase is planning to launch a crypto derivatives exchange in Bermuda as soon as next week, Fortune reported on Wednesday, citing a person close to the company. U.S. SEC Chair Gary Gensler told lawmakers on Tuesday that he had "never seen a field that's so non-complying with laws." Crypto firms say they need clarity about regulations, but Gensler has said that crypto markets "suffer from a lack of regulatory compliance, not a lack of regulatory clarity."

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