The firm recently conducted a survey to assess the constructive attitude of policy makers in Singapore towards crypto and Web3.
crypto exchange coinbase is watching transferred The United States Securities and Exchange Commission for Singapore denies the company’s requests for regulatory clarity.
US SEC Recently the judge asked to deny Coinbase’s bid to force the agency to respond to Coinbase’s rulemaking petition. The petition was filed last year for clarity on how securities laws apply to cryptocurrencies.
Last month, Coinbase filed a lawsuit against the SEC stating that the agency was neither prompt nor logical in its response to its petition. In addition, the exchange is seeking an official notice-and-comment process that enables the public to participate.
Coinbase CEO Brian Armstrong Is considering offshore migration due to lack of clarity on crypto mandate in the United States. The firm is exploring the Bahamas, the United Arab Emirates and Europe as suggested locations for its headquarters.
As the firm faces trouble, it is now looking to reinvigorate its global expansion strategy as a response to cryptocurrencies by regulatory authorities in the United States. The firm recently launched Coinbase International Exchange in the Bahamas to launch derivatives trading and is also exploring the UAE as a potential strategic hub.
Coinbase obtained a digital payment token service license from the Central Bank of Singapore in October last year. The approval will allow Coinbase to provide payment services to users in Singapore. Since the approval, the exchange has been rolling out a number of products and services for its Singapore users.
The firm recently conducted a survey to assess the constructive attitude of policy makers in Singapore towards crypto and Web3. The survey revealed that around 25% of Singaporeans consider crypto to be the future of finance. The study also showed that people with higher incomes are more likely to engage in business in the virtual space.
Along with the survey results, the firm also announced usdc Updates. The firm introduced USDC purchases with the Singapore dollar (SGD) at no fees, rewards for holding USDC on the platform, and made the USDC order book available on advanced trading.
As recently as March, Coinbase announced free bank transfers and SingPass integration to make it convenient for customers in Singapore to log into the platform. The exchange also revamped its Help Center and Coinbase Learning to address questions and educate about the crypto economy, which will allow users to take advantage of over 200 crypto assets for trading.
Coinbase has also formed a strategic banking partnership with Standard Chartered and allows Singapore citizens to exchange money to and from their accounts for free using any bank in Singapore.
Sana is a chemistry major and a blockchain enthusiast. As a science student, his research skills enabled him to understand the intricacies of financial markets. He believes that blockchain technology has the potential to revolutionize every industry in the world.
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