In response to growing tensions between the cryptocurrency industry and American regulators, Coinbase Global Exchange. opened an international exchange for Bitcoin derivatives on Tuesday. According to Coinbase, the exchange will permit institutional users in qualified non-US jurisdictions to trade in perpetual futures. In this article, we have explained how Coinbase introduces a global exchange.
Last year's collapse of Sam Bankman-Fried's cryptocurrency derivatives and exchange FTX, as well as other blow-ups, put the digital assets market in recovery mode.
Brian Armstrong, the CEO of Coinbase, issued a warning last month, stating that until the United States and the United Kingdom make their regulations for the business considerably clearer, cryptocurrency companies will grow in "offshore havens."
Coinbase asserted on Tuesday, amid a legal conflict with the Securities and Exchange Commission, that countries all over the world were becoming crypto hubs as a result of strong regulatory practices.
"We would like to see the United States take a similar approach to regulation by enforcement, which has resulted in a disappointing trend for crypto development in the United States," the crypto exchange added.
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