Coinbase is considering entering the European market as the confrontation between the cryptocurrency exchange and the U.S. Securities and Exchange Commission (SEC) escalates.
"We will decide to have one location from which to have our supervisory activities. We haven't yet decided which that hub will be, and we’re taking our time to think really carefully about where is the right location," said Tom Duff Gordon, VP of Internal Policy at Coinbase.
The escalation between Coinbase and the SEC came after Brian Armstrong, CEO of the cryptocurrency exchange, criticized U.S. regulators for unfair rules, DL News reported. In response, the SEC accused Coinbase of providing services with assets that are not registered as securities.
It's important to note that the Markets in Crypto-Assets (MiCA) legislation requires companies to choose an EU member state from which to access the 27-country market.
"We want to have a regulator that we think is trusted and a tier-one regulator," Gordon said.
Recall that Coinbase recently registered with the Bank of Spain as a cryptocurrency exchange and depository wallet provider. Also, Italy, Ireland, and the Netherlands were added to Coinbase's list of European locations last year.
Read also: Kraken expands operations in Europe.
