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<p class="is-style-lead">Coinbase’s executive responsible for international expansion, Nana Murugesan, will leave the firm in 2024 amid EU expansion.</p>
<p>Coinbase’s Vice President of International and Business Development, Nana Murugesan, is leaving the crypto exchange as the company seeks to expand services in Europe under the new Markets in Crypto-Assets (<a href="https://crypto.news/mica-explained-what-does-the-eus-first-crypto-regulation-mean-for-the-industry/" data-type="link" data-id="https://crypto.news/mica-explained-what-does-the-eus-first-crypto-regulation-mean-for-the-industry/" rel="noopener noreferrer nofollow">MiCA</a>) regulation.</p>
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   <p lang="en" dir="ltr">1/3 Really enjoyed my two incredible years at Coinbase. Thank you <a href="https://twitter.com/brian_armstrong?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@brian_armstrong</a>, <a href="https://twitter.com/emiliemc?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@emiliemc</a> and team for this amazing journey 🫡 It was a privilege to criss-cross the globe to build the foundation for growth. Sharing some reflections on my time here: <a href="https://t.co/4h0pwKmtUu" target="_blank" rel="noopener noreferrer nofollow">https://t.co/4h0pwKmtUu</a></p>— Nana Murugesan 🛡️ (@NanaMurugesan) <a href="https://twitter.com/NanaMurugesan/status/1724151933957746860?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 13, 2023</a>
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<p>Although Murugesan did not elaborate on the reason for the move, he said in <a href="https://x.com/NanaMurugesan/status/1724151933957746860?s=20" target="_blank" rel="noopener noreferrer nofollow">an X post</a> on Nov. 13 that he will leave the company in Q1 2024. However, he will stay at the firm as an advisor until July 2024. As of press time, it is unclear who will replace him.</p>
<p>You might also like: <a href="https://crypto.news/coinbase-to-layoff-950-employees-in-second-round-of-job-cuts/" rel="noopener noreferrer nofollow"> Coinbase to layoff 950 employees in second round of job cuts </a></p>
<p>Murugesan joined Coinbase in January 2022 as the Vice President of International and Business Development to “lead business development and international operations teams.” Before that, Murugesan held several positions at Snap Inc., Samsung Electronics, and The Boston Consulting Group.</p>
<p>The departure announcement comes just a few weeks after Coinbase <a href="https://crypto.news/coinbase-applies-for-mica-license-with-eu-hub-in-ireland/" target="_blank" rel="noopener noreferrer nofollow">said</a> it had&nbsp;applied for a license under the MiCA regime. At the time, Murugesan said the exchange decided to continue working in the European Union through its base in Ireland.</p>
<p>The&nbsp;<a href="https://crypto.news/malta-takes-next-steps-to-align-with-eus-mica-regulation/" rel="noopener noreferrer nofollow">MiCA</a>&nbsp;framework requires crypto companies to obtain authorization from a national competent authority before offering their services in the EU. It also imposes capital requirements, governance standards, disclosure obligations, and consumer rights.</p>
<p>Read more: <a href="https://crypto.news/coinbase-fined-11k-in-russia-despite-not-operating-there/" rel="noopener noreferrer nofollow"> Coinbase fined $11k in Russia despite not operating there </a></p>

Coinbase’s international expansion head to leave in 2024

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