In a resolute statement, Brian Armstrong, the CEO of Coinbase, has reaffirmed the exchange’s unwavering commitment to the United States market. Contrary to recent rumors, Armstrong made it clear that Coinbase will not be relocating to a more crypto-friendly country despite the regulatory uncertainties it currently faces.

Amid growing anxieties among crypto investors regarding restrictive regulatory conditions in the US, numerous cryptocurrency exchanges have shifted their focus to more welcoming international markets. However, Coinbase stands apart, emphasizing its dedication to continue serving American customers and offering cryptocurrency services within the US.

Coinbase’s revenue from the US market alone amounted to an impressive $2.7 billion in the previous year. Armstrong firmly stated that leaving the United States was never considered, even under the pressure of regulatory challenges. The CEO assured stakeholders that there is no contingency plan in place to relocate the company’s headquarters.

Armstrong emphasized, “It’s not even in the realm of possibility right now. There is no break-glass plan. We’re staying in the United States.”

CEO Displays Mixed Signals With SEC Lawsuit

While Armstrong vehemently denied any intention of moving out of the US, in a previous statement, he had suggested that options were being considered, including exploration of markets with friendlier crypto regulations. This sparked speculation about Coinbase’s potential relocation plans.

Notably, rumors gained momentum after Coinbase hinted at delisting major cryptocurrencies like Cardano (ADA) and secured a license in Bermuda. However, Armstrong has clarified that these licenses were obtained for the purpose of expanding Coinbase’s adoption and global presence, dispelling any doubts regarding alternative plans.

In an interview with the Financial Times, Armstrong openly stated, “Those licenses we’re acquiring internationally are not contingency plans; they’re international expansion plans.”

Recent legal matters have also kept Coinbase in the spotlight. On June 6, the exchange was hit with a lawsuit filed by the SEC. In response, Coinbase’s legal team filed a motion to dismiss the lawsuit. The outcome of this case holds significant implications, not only for the company but for the broader crypto market and operating institutions within the United States.

Coinbase Continues its US Journey

Despite the regulatory challenges and occasional mixed signals from its CEO, Coinbase remains committed to serving the US market. The exchange’s decision to stay in the United States underscores its dedication to provide reliable and compliant cryptocurrency services to American customers.

As the legal proceedings unfold and the industry navigates evolving regulations, Coinbase’s steadfastness offers reassurance to investors and market participants alike. The exchange continues to prioritize its role as a leading cryptocurrency platform within the United States, striving for further growth and innovation while staying true to its local roots.

Disclaimer: The information provided in this research report is for informational purposes only and should not be interpreted as financial or investment advice. The NFT and cryptocurrency market is highly volatile, and readers should conduct thorough research before making any investment decisions.