Crypto Businesses Leaving U.S. ? ✈️🚀
Will other crypt businesses follow Coinbase’s lead and leave the United States of America?
The world’s second-largest crypto exchange Coinbase made a splash last week when it announced the launch of an offshore exchange in the coming weeks after obtaining a license in Bermuda. Meanwhile, Ripple remains in its legal battle with the U.S. Securities and Exchange Commission (SEC), with a ruling potentially coming any day now, according to several experts. Will other crypt businesses follow Coinbase’s lead and leave the United States of America in favor of a jurisdiction that regulates cryptocurrencies in a friendlier way?
PBN Research
Coinbase Continues Overseas Expansion
Coinbase, the second-largest crypto exchange in the world, has received its digital asset business license from the Bermuda Monetary Authority, Bermuda Premier David Burt tweeted Wednesday night. Coinbase will open an offshore derivatives exchange there “as soon as next week,” according to a person close to the company, Fortune reported.
US Crypto Eyeing Overseas
https://www.coindesk.com/consensus-magazine/2023/03/27/crypto-leaving-us/
The CEO of Ripple, Brad Garlinghouse, told Bloomberg the crypto industry has “already started” moving outside of the U.S. Coinbase, the largest U.S.-based crypto exchange, is considering launching an overseas trading desk, driven by U.S. regulatory uncertainty. Circle, issuer of the USDC stablecoin, is opening a new office in Paris because, as Circle’s chief strategy officer has said, “France is increasingly seen as a leader in crypto.”
Ease of Use Over Decentralization
Crypto billionaire Arthur Hayes posits that the majority of crypto users prioritize ease of use over decentralization, prompting discussions on how this preference may influence user behavior and the future of cryptocurrency adoption.
"At the end of the day, the average person doesn't actually care about decentralization or centralization," the former CEO of crypto exchange BitMEX stated during a podcast hosted by Decrypt.