Coinbase launched an international cryptocurrency derivatives exchange on Tuesday, seeking to expand its global footprint amid rising tensions between the cryptocurrency industry and regulators in the United States.
The exchange will allow institutional users in eligible jurisdictions outside the United States to trade perpetual futures, the company said.
Last month, Coinbase CEO Brian Armstrong warned that cryptocurrency companies will develop into “offshore havens” unless the US and UK make their rules for the industry much clearer.
Coinbase, embroiled in a dispute with the Securities and Exchange Commission, said on Tuesday that countries around the world are developing as cryptocurrency hubs thanks to a responsible regulatory framework.
“We would like the US to adopt a similar approach instead of enforcement regulation, which has led to a disappointing trend for cryptocurrency development in the country,” the company said.
Separately, cryptocurrency platform Gemini on Tuesday launched a derivatives platform for trading perpetual futures outside the US jurisdiction.
Source: Terra
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