The cryptocurrency exchange is now working on registration in countries including Spain, Italy, France, and the Netherlands. In addition to the UK, Ireland, and Germany, the exchange also operates in Spain, Italy, France, Switzerland, and the Netherlands.
Vice President of Business Development at Coinbase, Nana Murugesan, also revealed that the company’s first employee was employed in Switzerland. Due to the decline in the cryptocurrency sector, Coinbase has cut close to 1000 workers in the US.
Bitcoin Exchange Looking For Acquisition Opportunities Is Coinbase
The market crashed, wiping out the worth of several well-known bitcoin firms, thus the American exchange is also exploring for takeover options. The exchange has seen a good amount of the effects of the bitcoin carnage.
This month, the exchange laid off 18% of its worldwide workforce, with the majority of the cuts occurring in the US. The exchange also called back a few jobs. Local branches of Binance and FTX are also a threat to the cryptocurrency trading platform.
When the firm attempted to expand into India, a significant barrier prevented it from doing so since India forbade UPI deposits.
Additionally, Coinbase Pro, a platform for professional traders, was just shut down. All of the services have been combined onto one platform by the exchange.
Regional Managers for Coinbase’s European operations may be hired
Additionally, Murugesan stated that supervisors will be hired by Coinbase to oversee its activities in Europe. Following a period of tremendous expansion, the company is also focused on giving “mission-critical tasks” for sectors like security and compliance priority. Murugesan claimed:
This was really during the final significant bear market in 2015–2016 when we first entered the United Kingdom and Europe.
The crypto exchange corporation is now preparing to comply with the Markets in Crypto-Assets Regulations of the European Union (MiCA).
Additionally, Coinbase is pursuing permission under the anti-money laundering regulations in a number of nations, including France.
Coinbase is attempting to stay up with its rivals, who are becoming increasingly well-known throughout the world. Middle Eastern licenses are held by Binance and FTX. Coinbase followed a similar path and is now looking for approval in European countries, while Binance has already secured a license in France and Italy.
Coinbase is also underway with its talks to get approval under the anti-money laundering rules in several countries which include France.
Coinbase is also trying to keep up with its competitors, which are gaining a lot of popularity across the globe. Binance and FTX have licenses in Middle East. Binance also has obtained license in France and Italy, Coinbase also walked on the same steps and is now seeking permission in European nations.
Bitcoin Exchange Looking For Acquisition Opportunities Is Coinbase
The market crashed, wiping out the worth of several well-known bitcoin firms, thus the American exchange is also exploring for takeover options. The exchange has seen a good amount of the effects of the bitcoin carnage.
This month, the exchange laid off 18% of its worldwide workforce, with the majority of the cuts occurring in the US. The exchange also called back a few jobs. Local branches of Binance and FTX are also a threat to the cryptocurrency trading platform.
When the firm attempted to expand into India, a significant barrier prevented it from doing so since India forbade UPI deposits.
Regional Managers for Coinbase’s European operations may be hired
Additionally, Murugesan stated that supervisors will be hired by Coinbase to oversee its activities in Europe. Following a period of tremendous expansion, the company is also focused on giving “mission-critical tasks” for sectors like security and compliance priority. Murugesan claimed:
This was really during the final significant bear market in 2015–2016 when we first entered the United Kingdom and Europe.
The crypto exchange corporation is now preparing to comply with the Markets in Crypto-Assets Regulations of the European Union (MiCA).
This law would simplify the regulation of crypto assets, which will safeguard consumers and investors, as well as distributed ledger technology (DLT). Additionally, Coinbase is pursuing permission under the anti-money laundering regulations in a number of nations, including France.
Coinbase is attempting to stay up with its rivals, who are becoming increasingly well-known throughout the world. Middle Eastern licenses are held by Binance and FTX. Coinbase followed a similar path and is now looking for approval in European countries, while Binance has already secured a license in France and Italy.
