BREAKING: Coinbase EXPANDS Despite Regulatory Pressures

August 14, 2023 1:34 pm Comments

While Coinbase and Binance continue to face mounting legal pressures in the United States, other countries are happily embracing blockchain technology and Web 3.0 firms.

Coinbase has officially launched in Canada and has expanded its services in the country as of Monday, August 14, 2023.

CEO Brian Armstrong states: “Coinbase is launching in Canada today! New leadership, new payment rails, new regulatory milestones, and 200 local employees. Smart countries are embracing this technology (and creating regulatory clarity) to help update the financial system and drive economic growth.”

According to Coin Telegraph:

Coinbase integrated the option for 100% of its users to deposit and withdraw money from their accounts via the Interac e-Transfer service.

According to the exchange, this feature was the most requested update from Canadian users since launching in the country earlier in August.

Multiple outlets including Bloomberg, Coin Speaker, and CryptoNews all confirmed Coinbase’s expansion into Canada.

Crypto Slate featured this related news:

Over the weekend, several crypto stakeholders, including Senator Cynthia Lummis, submitted an amicus brief in support of Coinbase’s motion to dismiss the SEC lawsuit. Senator Lummis argued that the financial regulator’s regulation-by-enforcement approach toward cryptocurrency firms was wrong.

In response to the challenging regulatory environment in the U.S., Coinbase has been looking to expand its operations abroad, culminating in the recent launch of an international exchange platform for institutional traders.

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