Coinbase granted license to operate in Bermuda, may launch derivatives exchange next week Coinbase crypto cryptocurrencyexchange
- Following recent comments from Coinbase CEO Brian Armstrong that the largest U.S.-based cryptocurrency exchange may consider relocating if the regulatory environment in the country doesn’t improve, the exchange announced on Wednesday that it has obtained a license to offer its services in Bermuda.
The Class F license will enable Coinbase to conduct a range of activities, including the issuance, sale, and redemption of digital assets. It also allows the platform to operate as both a digital asset exchange and a digital asset derivatives exchange provider. “Bermuda was one of the first financial centers to pass comprehensive digital assets regulation in 2018, and its regulatory environment is long known for a high level of rigor, transparency, compliance, and cooperation,” Coinbase wrote. “Bermuda was chosen as one of our international hubs as the BMA is a highly respected and experienced financial regulator that is led by a world-class executive team and board of directors.
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