Blockcrux
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Review
  • Contact
    • Advertising
    • Submit Press Release
Reading: Amid Regulatory Troubles, Coinbase Sets Its Sights on Singapore
Share
Aa
BlockcruxBlockcrux
Search
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Review
  • Contact
    • Advertising
    • Submit Press Release
Blockcrux
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Review
  • Contact
    • Advertising
    • Submit Press Release
Reading: Amid Regulatory Troubles, Coinbase Sets Its Sights on Singapore
Share
Follow US

Home - Amid Regulatory Troubles, Coinbase Sets Its Sights on Singapore

BusinessCryptoGeneral News

Amid Regulatory Troubles, Coinbase Sets Its Sights on Singapore

Toby
Last updated: 2023/05/17 at 11:06 AM
Toby May 17, 2023
Share
Amid Regulatory Troubles, Coinbase Sets Its Sights on Singapore
Amid Regulatory Troubles, Coinbase Sets Its Sights on Singapore
SHARE

Coinbase, a major global cryptocurrency exchange, is looking to expand its presence in Singapore as part of its international growth strategy in response to increased regulatory scrutiny in the US. This decision comes after the Securities and Exchange Commission (SEC) issued a Wells Notice to Coinbase earlier this year, signaling potential regulatory action related to the exchange’s listing of unregistered securities.

Contents
Coinbase Global Expansion Coinbase Targets Singapore Coinbase vs SEC

Brian Armstrong, the CEO of Coinbase, has conveyed his discontent with the SEC, asserting that it is pursuing a solitary agenda, with SEC Chair, Gary Gensler taking a more pessimistic approach towards digital currencies. Armstrong has also suggested that Coinbase might be forced to relocate its operational headquarters beyond the borders of the United States should the current regulatory obstacles persist..

https://twitter.com/CoingraphNews/status/1658722664683380737?t=DJuZX2k5TwMeEtVHJz44kw&s=19

Coinbase Global Expansion 

Coinbase, the cryptocurrency exchange, is ramping up its global expansion strategy in response to the crackdown on crypto by regulators in the United States. The company has recently launched the Coinbase International Exchange in the Bahamas, which will provide trading in derivatives. 

Furthermore, they are exploring the possibility of using the United Arab Emirates as a strategic hub. In October 2020, the Monetary Authority of Singapore granted Coinbase in-principle approval, leading to a rollout of various products and services for its clients in Singapore.

https://twitter.com/NanaMurugesan/status/1655493311161851904?t=o2QME8cpwCcCRjYz0qHgpA&s=19

Coinbase Targets Singapore 

Coinbase has also launched a range of fresh features recently. These include the option to buy USDC with Singapore dollars (SGD) without incurring any fees. Additionally, users can enjoy incentives for holding USDC, advanced trading using USDC order books, and staking opportunities for various cryptocurrencies like ETH, SOL, ADA, ATOM, and XTZ.

Earlier this year, Coinbase facilitated the process for Singaporean customers to join its cryptocurrency exchange by introducing free bank transfers and integrating with Singpass, the digital identity application. The exchange is working together with the Monetary Authority of Singapore to enhance the regulatory structure, safeguard consumers, and expand retail accessibility.

Coinbase vs SEC

Coinbase has faced several challenges due to the SEC’s crackdown. The regulatory agency has sent a letter to Coinbase, warning of potential legal repercussions, and also issued a Wells Notice to the exchange, indicating that they may take regulatory action related to the inclusion of unregistered securities. 

Coinbase has conveyed its strong disapproval of the SEC, alleging that the regulatory agency is failing to fulfill its obligation of supervising the registration process for companies selling their services. Despite the SEC’s recent attempts to restrict staking services offered by centralized providers, Coinbase has reassured its customers that it will continue to offer staking services and may even improve them.

TAGGED: COinbase, cryptocurrency, SEC, Singapore
Share This Article
Facebook Twitter Email Print

PRESS RELEASE

WeFi

$COMP Fork WeFi Lists Token And Launches LP Rewards Programme On Syncswap Dex On zkSync Era Just Before Mainnet Launch

Prepare for an Unforgettable Journey: WOW Summit Dubai 2023, the Epitome of Luxurious Web3 Experience
Bitcoin Red Diamond-3SPOS Protocol-1,000,000 transactions per second will gradually become realistic
Web3×LLM On-Chain Contract Analysis Tool “DeCipher” Sparks Excitement Among Developers and Researchers
Helio Protocol and Synclub Merge, Paving the Way for a LSTFi-Fueled DeFi Summer

LATEST NEWS

The Bitcoin Lessons Learnt From Canadian Truckers

Toby Toby April 19, 2022
North Carolina Passes a Bill to Ban CBDC
Amazon Flex Delivery Program Expands to over 35 Cities across India
Binance Australia Halts AUD Fiat Services Due to Third-Party Issues
Six Ways Cryptocurrency Can Improve Your Finances 
Blockcrux Logo
  • Learn
  • Review

About Blockcrux

Blockcrux is a web3 news publisher dedicated to delivering the latest, most accurate insights into blockchain and decentralized technologies. Covering everything from cryptocurrencies to NFTs and DeFi, it offers uncensored, real-time news, embodying the transparency and democracy inherent in the web3 ecosystem.

News

  • Blockchain
  • Crypto
  • Web3
  • AI

Help

  • Contact
  • Advertising
  • Submit Press Release

© Blockcrux News Network. All Rights Reserved.

Follow US on Socials

Welcome Back!

Sign in to your account

Lost your password?