Coinbase Explores Overseas Venue as US Ramps Up Crypto Scrutiny

Institutional clients of Coinbase have been contacted by the firm about plans to potentially set up a new crypto-trading platform overseas, Bloomberg News reported Friday, citing three people with direct knowledge of the matter. From the report: The talks with market makers and investment firms touched on the possibility of establishing an alternative venue -- away from the main Coinbase marketplace -- for global clients, said the people, who asked not to be named as the discussions are confidential. The talks are occurring against the backdrop of an intensifying US crackdown on cryptocurrencies. Coinbase has yet to decide where the platform might be based, but it has been speaking to market makers about connecting to it, one of the people said. The US environment for digital-asset companies continues to sour following a string of regulatory actions and bank failures. While Coinbase's services are available in more than 100 countries, orders from clients around the world are currently routed to the same US platform.

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