The crypto exchange is nearing a call on where it will grow its European roots as its battles in the US heat up.
t yet decided which hub will be, and we're taking our time to think really carefully about what is the right location, said Tom Duff Gordon, the vice president of international policy at the Brussels summit organised by Blockhain for Europe.
The comments come as CEO Brian Armstrong rails against U.S. regulators amid an industry-wide battle to establish crypto firms' legal standing.
The SEC has charged Coinbase with operating an illegal exchange, allowing investors to trade assets that are not registered as securities.
The regulatory landscape in Europe is changing due to a new European crypto regime.
MiCA, the legislation for companies to access the European market, enables them to access the entire European market. But first, they have to pick one member of the state to get licensed.
A support government is another crucial feature of the winning hosting member state for Coinbase.
Gordon said he didn't think it would be possible for the government to make any decisions about its finances.
We will discontinue all operations across Europe, he said.
This year, Coinbase has increased their attacks on the SEC for what it says are unfair regulations for crypto.
Then, Coinbase is still collecting individual registers from EU member states, providing the exchange with the ability to target national populations.
On Monday, coinbase successfully registered with the Spanish central bank.
Over the past few years, Italy, Ireland, and the Netherlands have been added to the list for Coinbase within Europe.
Under MiCA, firms can continue providing services to customers in individual EU countries as the new laws are implemented and jurisdictions transition into the new set of rules over the next few years.