- During a conference in London, Tom Duff Gordon, the International Policy Vice President of Coinbase, stated, “We want to bring one billion people to the cryptocurrency world; we are fully committed to economic freedom.”
- In addition to previously acquired licenses in Ireland, Germany, and the Netherlands, Coinbase has also obtained a license from the Bermuda Monetary Authority (BMA) to establish a derivative exchange in Bermuda, which is a British overseas territory.
- The Coinbase executive also mentioned that he is making efforts to gain support from colleagues in Washington and is ready to follow the necessary path to achieve the company’s goal.
The manager of the Coinbase exchange explained the plans and goals of the exchange: The manager says that these goals cannot be achieved only in the US.
Coinbase’s Chief Reveals the Exchange’s Goals
Coinbase, the largest cryptocurrency exchange in the United States, is increasingly focusing on international expansion, according to Tom Duff Gordon, the International Policy Vice President of the company.
During a conference in London, Gordon stated, “We want to bring one billion people to the cryptocurrency world; we are fully committed to economic freedom.” He added, “That’s why international growth, especially given the situation in the United States, is becoming increasingly important.”
Last year, Coinbase unveiled its “Expand and Deepen” strategy for international markets, resulting in developments such as the company registering as a crypto exchange and custody wallet provider with the Spanish Bank and obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS).
Gordon mentioned that Coinbase is now adopting an “international-first” approach. In addition to records previously obtained in Ireland, Germany, and the Netherlands, Coinbase has also obtained a license from the Bermuda Monetary Authority (BMA) to establish a derivative exchange in Bermuda, a British overseas territory.
Gordon stated, “When we look at Singapore, it’s a significant central market, and the MAS, which is both the regulator and central bank, is very progressive,” and he added that there is a lot happening in the Southeast region. Currently, Coinbase has around ten markets outside of the US. According to Gordon, the United Kingdom is “number one,” and it also includes Brazil, Canada, and Australia.
Dealing with US Regulations
When it comes to the US, Gordon believes that Coinbase has a responsibility to fight for regulatory clarity. He said, “In a perfect world, we would have some kind of joint exchange process with the regulatory agency. This is what happened in Europe. This is what happened in Singapore. This is what happened in the UK.” In the US, however, the Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase, accusing it of selling unregistered securities.
Gordon stated, “We have a strong belief that tokens are not actually securities; they are, in fact, commodities. We don’t want to sue our regulator in any way to provide clarity for this industry, but we will do everything we need to do to get clarity for this industry.”
The Coinbase executive also mentioned that he is making efforts to gain support from colleagues in Washington and is ready to follow the necessary path to achieve the company’s goal.
Gordon said, “There is an election next year, so whether we go through regulation or Congress, we are determined to stay in the US, and we know we will do everything to keep this agenda going.” He also added, “There are just 300 million people in the US, and Brian Armstrong has a grand vision of bringing one billion people to the cryptocurrency world, but we can’t do this in the US alone.
