Coinbase Says UAE Is Important Strategic Hub for Crypto Exchange’s Global Operations

The United Arab Emirates (UAE) is being mentioned by US crypto exchange firm Coinbase as a potential important location for its intended expansion of global operations. 

As they ponder expanding to the region that welcomes cryptocurrencies, Coinbase CEO Brian Armstrong and other executives are reportedly meeting with UAE politicians in Dubai.

“Crypto and Web3 serve as enormous opportunities for economic and technological diversification for the UAE,” claims Coinbase. “The region has the potential to be a strategic hub for Coinbase, amplifying our efforts across the world.”

The visit occurs as Coinbase is at odds with the Securities and Exchange Commission (SEC) of the United States. The SEC recently sent Coinbase a Wells Notice alerting it to the possibility of enforcement action for possible securities law violations.

In order to get the required licensing to conduct business in the UAE, which Coinbase views as a crucial geographical link between Europe and Asia, the company is reportedly in talks with UAE officials.

Without a doubt, the UAE has the potential to serve as a strategic hub for Coinbase, enhancing our global efforts. Additionally, it acts as a particularly important strategic link between Asia and Europe, two of our current priority international regions.

Although we only introduced Coinbase International Exchange in Bermuda last week, it is well known that Coinbase is also coordinating with ADGM officials to extend Coinbase International Exchange’s licensing and accessibility.

In a recent Coinbase earnings call, Armstrong declared his commitment to keeping operations in the United States even while the business develops elsewhere. We are completely dedicated to the US, let me be clear. Because I observed that the rule of law is upheld in this country, I chose to establish this business there. That is very significant.

Additionally, he expressed confidence that US authorities will eventually “get it right” in terms of cryptocurrency legislation.