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Coinbase Eyes International Hub in UAE Amid US Regulatory Challenges

• Coinbase, a global crypto exchange, is considering setting up an international hub in the United Arab Emirates (UAE).
• CEO Brian Armstrong praised the UAE for its forward-thinking approach to crypto regulation and its strategic location.
• The UAE has become increasingly attractive to crypto entrepreneurs and investors due to its welcoming regulatory landscape, making it a prime location for Coinbase to expand.

Coinbase Considering Establishing International Hub In UAE

Crypto exchange firm Coinbase is exploring the possibility of establishing an international hub in the United Arab Emirates (UAE). In an interview with Bloomberg TV, CEO Brian Armstrong highlighted the country’s forward-thinking approach towards cryptocurrency regulation and its strategic position between Europe and Asia.

UAE Attractive To Crypto Investors & Entrepreneurs

The UAE has become increasingly attractive to crypto investors and entrepreneurs due to its welcoming regulatory environment. The region boasts over 500 web3 startups in Dubai, while Hub71 in Abu Dhabi offers funding and access to blockchain and virtual asset infrastructure. Additionally, 11% of the population owns cryptocurrency, further contributing to its appeal as a potential hub for Coinbase’s global growth.

Regulatory Progress Aligns With Coinbase Objectives

The UAE is working on developing a comprehensive retail framework for virtual assets that emphasizes economic sustainability and cross-border financial security. This progress aligns with Coinbase’s objectives as it looks for alternative financial hubs outside of the US due to ongoing difficulties with domestic regulators.

Coinbase Commits To Home Market Despite Regulatory Challenges

Despite these difficulties at home, Armstrong made it clear that Coinbase has no intention of leaving its home market. However their exploration into other hubs indicates their dedication towards expanding their operations globally while continuing operations in their core markets like Europe & Asia.

Conclusion

Overall, Coinbase’s potential move into the UAE could be beneficial both economically and strategically as they look to expand operations internationally while continuing operations domestically despite ongoing regulatory challenges at home.

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