The US-based cryptocurrency exchange – Coinbase – received approval from the Bermuda Monetary Authority to operate on the island. It also intends to establish an offshore derivatives marketplace in the region as soon as next week.
CEO Brian Armstong recently said his entity could relocate to other countries if the American watchdogs do not impose an appropriate regulatory framework on the digital asset sector.
Next Stop: Bermuda?
Coinbase announced in a blog post that it had secured a Class F License under the Digital Asset Business Act from the Bermuda Monetary Authority (BMA). It also praised the island nation for being among the first financial hubs to pass “comprehensive” crypto regulation in 2018.
“Bermuda was chosen as one of our international hubs as the BMA is a highly respected and experienced financial regulator that is led by a world-class executive team and board of directors. The BMA is also a member of several international organizations and maintains close re
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