There are calendar coincidences that resonate in a particular way. The international crypto leader Coinbase has thus just announced that it had obtained today the validation of an operating license in Bermuda, a little corner of paradise known for its exotic cocktails, its mysterious disappearances and its evanescent taxation. Information that is timely, even though nothing seems to be keeping the Bitcoin giant on American soil.
Coinbase changes base
It is through a discreet article on his blog that Coinbase publicized an event which could nevertheless have very important economic, even geopolitical consequences on a North American scale.
The leading platform in the crypto transaction sector has indeed made it known that it To “obtained a regulatory operating license from the Bermuda Monetary Authority”, the country’s financial regulator.
This license will allow Coinbase to operate its traditional crypto services, but also to offer more “exotic” digital asset derivatives, a development of its activities that is complicated to consider in the context of increasingly stifling regulations. on US territory.
Of course, we immediately understand that a giant of the crypto industry like Coinbase will necessarily take advantage of the reputedly accommodating taxation of the small island territory.
However, it will also have escaped no one that this “move” of part of the company’s activities is timely, even though relations between the platform and the US crypto regulator – Security Exchange Commission in the lead – have never been so bad.
>> Prefer to keep your cryptos safe? Choose a Ledger wallet (commercial link) <<
Last markdown before closing
Brian Armstrongboss of Coinbase, explained again yesterday in London that faced with a regulation described as “unwelcoming”, the hypothesis of a pure and simple departure from American territory was taking on more and more substance.
If we know the ability of the crypto industry to adapt quickly, rarely, however, actions have responded so quickly to declarations of intent. Indeed, it seems that Coinbase plans to start operations in Bermuda… next week!
Anyway, and even if Coinbase recalls in its blog post that this movement is part of a global policy of expansion on a global scale involving as much Europe, Canada as the United Arab Emirates, all observers agree to call the event the potential “beginning of the end” of Coinbase’s American adventure.
Faced with an increasingly aggressive American regulator (which has just put the Bittrex platform on its hunting board), is Coinbase ready to uproot itself from its native lands, and adopt a Binance model, everywhere and? nowhere at once? The future will tell.
In crypto, do not economize on caution! So, to keep your crypto assets safe, the best solution is still a personal hardware wallet. At Ledger, there is something for all profiles and all cryptos. Do not wait to put your capital in safety (commercial link)!