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Coinbase opens offshore exchange in Bermuda

As Coinbase gears up for a legal battle with the SEC and secures a license for an offshore exchange in Bermuda.

By Mike Hesp
• 1 min read
Coinbase opens offshore exchange in Bermuda

As Coinbase gears up for a legal battle with the SEC, it has received a license to operate its crypto exchange offshore in Bermuda.

Coinbase has received a license to operate its crypto exchange in Bermuda. The company announced this yesterday, April 19, in a blog post. Specifically, they said: "We chose Bermuda as one of our international hubs because the Bermuda Monetary Authority (BMA) is a highly respected and experienced financial regulator."

According to a person close to the company, Coinbase plans to open an offshore exchange in Bermuda as soon as next week, Fortune reports. Coinbase also wants to enter the UK and European markets. It also said it has confidence in the European Markets in Crypto Assets (MiCA) regulation. Meanwhile, the crypto exchange is preparing for a legal battle with the SEC.

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