US Crypto Exchange Coinbase Secures Bermuda License (reuters.com) 16
Coinbase has been granted a license by the Bermuda Monetary Authority, allowing the US crypto exchange to operate as a digital asset business there. The exchange is also in the process of obtaining a license in Abu Dhabi. Reuters reports: Coinbase CEO Brian Armstrong said on Tuesday that crypto firms will develop in "offshore" havens unless the U.S. and UK create "clarity about regulation" for crypto. Coinbase is planning to launch a crypto derivatives exchange in Bermuda as soon as next week, Fortune reported on Wednesday, citing a person close to the company.
U.S. SEC Chair Gary Gensler told lawmakers on Tuesday that he had "never seen a field that's so non-complying with laws." Crypto firms say they need clarity about regulations, but Gensler has said that crypto markets "suffer from a lack of regulatory compliance, not a lack of regulatory clarity."
U.S. SEC Chair Gary Gensler told lawmakers on Tuesday that he had "never seen a field that's so non-complying with laws." Crypto firms say they need clarity about regulations, but Gensler has said that crypto markets "suffer from a lack of regulatory compliance, not a lack of regulatory clarity."
If you want to be an exchange (Score:3)
Be an exchange and follow the rules.
Or be an asset holding company
Or be an investment company.
Just because you are crypto doesn'tean we are going to make ponzi schemes legal
Re: (Score:2)
Just because you are crypto doesn'tean we are going to make ponzi schemes legal
And if you want to post about economy, learn some basics first. A bubble isn't a Ponzi scheme. If you want examples of Ponzi schemes, you should look to national retirement funds.
Clarity as in "just like other exchanges" (Score:1)
If you make a monetary exchange, it has regulations that it must comply with. Being "crypto" should not change that.
And yet, Coinbase thinks it should.
more BS (Score:3)
Re: (Score:1)
Not at all.
They've made rules saying crypto is multiple, competing things. They treat it like a currency and then regulate it like a security, and users take a dick both ways regardless.
crypto derivatives (Score:2)
I know, let's package up a bunch of our shit coins and sell derivatives!
Re: (Score:2)
You joke:
Top Cryptocurrency Derivatives Exchanges Ranked [coinmarketcap.com]
Now moving to a tax haven? (Score:2)
Quite frankly, if you still don't think that this whole biz is shady as fuck, you deserve what you get.
Fools and money...
Whoops, we got that wrong... (Score:2)
They're getting a Bermuda Triangle license.
Re: (Score:2)
Well, at least it'll make perfect cents when your money disappears into the ether!