Coinbase Made An Announcement Enabling Users Outside The United States To Buy And Sell Bitcoin And Ethereum.
- Posted on December 14, 2023 7:53 PM
- Cryptocurrency Exchanges News
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Coinbase, through an official blog post, announced that buying and selling Bitcoin (BTC) and Ethereum (ETH) is now possible for users outside the United States. Coinbase stated that this move is part of its effort to provide more asset options to its customers worldwide.
On December 13th, Coinbase announced that international institutional investors on its exchange can now access spot crypto services. Coinbase stated that non-U.S. institutional customers would be able to trade Bitcoin and Ether against USD Coin. The exchange announced that the services would commence on December 14th, with plans to later expand to individual investors, incorporating different tokens and featuring "features that provide new trading strategies and enhance capital efficiency." Coinbase acknowledged concerns about interacting with U.S. exchanges due to the evolving and uncertain market regulations in the United States.
We are excited to announce the next phase of our Coinbase International Exchange expansion - the launch of non-US spot markets for eligible customers, designed to address the unique needs and demands of our global user base. pic.twitter.com/JWEChT5BDa
— Coinbase 🛡️📞 (@coinbase) December 13, 2023
In June, Coinbase faced a lawsuit filed by the U.S. Securities and Exchange Commission (SEC), alleging that the company operated as an unregistered securities exchange, broker, and clearing agency. Similarly, other U.S. exchanges have encountered similar sanction actions or charges brought by the Department of Justice, such as Binance and Kraken.
Coinbase had started offering BTC and ETH perpetual futures trading services for institutional investors in May and expanded its operations internationally. Additionally, in September, the company announced its plans to provide the same services to individual investors.
In the United States, Coinbase's 'Stand With Crypto' initiative facilitated engagement with voters before the 2024 elections. On December 11th, the organization hosted a forum where three candidates from different political parties discussed issues related to the crypto market and blockchain.
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