
The U.S. cryptocurrency exchange, Coinbase, is putting greater emphasis on international expansion, according to its vice president for international policy Tom Duff Gordon.
Coinbase recently unveiled its strategy for international markets, which recently saw the company registering with the Bank of Spain as a cryptocurrency exchange and custodian wallet provider and obtaining the Major Payment Institution license from The Monetary Authority of Singapore.
Coinbase is now adopting this kind of international first mentality, he said.
Coinbase had already secured registrations in Ireland, Germany, and the Netherlands with the Bermuda Monetary Authority, and the Bermuda Monetary Authority, to open a derivatives exchange in the British island territory.
sa key hub market, and MAS, which is a regulator and the central bank there, they are just extremely progressive, he said.
Currently, Coinbase has around 10 markets outside the U.S., with the UK, according to Gordon, number one and also including Brazil, Canada, and Australia.
Bitcoinbase has a responsibility to fight for regulatory clarification when it comes to the U.S., he said.
d have a common exchange process with the regulator. What's happening in the UK, he said.
The SEC has sided with coinbase, accusing the crypto exchange of selling unregistered securities.
Rely commodities, Gordon said, adding that regulatory matters in the US are getting complicated due to the 'tough battle' between the SEC and the Commodity Futures Trading Commission.
We are determined to try and drive regulatory clarification, he said. We don't want to be in a position where we're suing our regulator, he said. We are not where we want to be, but we will do everything we have to do to get clarification for this industry, he said.
The Coinbase exec commended his colleagues in Washington with whom he's been trying to get support in Congress, saying that the exchange is ready to go on whatever path is needed to achieve its goal.
Although it may not come tomorrow, Gordon said he thinks 'we are on a good path' to get that.
s just 300 million people in the U.S. and there's also Brian Armstrong's [Coinbase CEO] big vision to bring a billion people into crypto, but we can't just do that in the U.S., Gordon said.