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The firm is exploring the transformative potential of the crypto economy in the UAE
The United Arab Emirates could become a new hub for Coinbase to implement its international expansion strategy.
“The country is a particularly strategic bridge between Asia and Europe – our two existing international regions of focus to date,” the company’s statement read. blog.
The announcement came during a visit by Coinbase CEO Brian Armstrong and other senior executives to the UAE, where they hope to meet local regulators and discuss potential collaborations. Armstrong will also participate in the Dubai Fintech Summit as one of the keynote speakers.
“The UAE is to be commended for being forward thinking when it comes to cryptocurrencies. World’s first dedicated cryptocurrency regulator, published a clear rulebook(!), business friendly coupled with strong customer protections. So far I really appreciate Enjoyed the visit,” Armstrong wrote in his post twitter account.
The visit comes at a time of heightened tension between the exchange and the SEC. In March, U.S. regulators forwarded a Notice Inquiry to Coinbase regarding listing procedures and platform offerings – Coinbase Prime, Coinbase Wallet and Coinbase Earn staking services.
Coinbase argues that the SEC does not provide sufficient regulatory guidance to U.S. companies operating in the crypto space. May 4, United States Court Ordered The SEC will have 10 days to respond to Coinbase’s allegations about how it applied securities laws to digital assets.
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