Coinbase CEO Meets SEC Amid Moving Offshore Reports
Coinbase CEO, Brian Armstrong has reportedly met with the US Securities and Exchange Commission (SEC) amid reports that the company is planning to move some of its operations offshore. The meeting comes as Coinbase faces increasing scrutiny from the securities regulator.
The news comes from an exclusive report by CoinDesk which states that Armstrong had recently visited the commission office in Washington DC. CoinDesk’s source claimed that the meeting was “to discuss the company’s policies, particularly around global compliance.”
Coinbase has been in discussions with regulators around the world while it prepares to launch new products and services. The company has previously announced its intention to go public in 2021 and this latest visit could be related to that.
The Wall Street Journal reported last year that Coinbase would be considering moving some of its operations offshore in order to reduce regulatory costs and make international expansions easier. It is unclear if any decisions were made during Armstrong’s visit.
Despite the uncertainty surrounding its plans, Coinbase continues to innovate and expand its business. Last month, the company acquired Tagomi, a cryptocurrency trading platform for institutional investors, for $150 million..