Coinbase has gone and done it. After years of grumbling about the U.S. regulatory climate, the crypto industry's flagship firm has obtained a license in Bermuda, where it will soon open a global exchange.
The move is not as dramatic as it sounds. Despite CEO Brian Armstrong's recent mutterings about the risk of U.S. crypto firms pulling up stakes, people close to the company say Coinbase has no plans to quit the country. Doing so would be foolish given that Coinbase has a big first-mover advantage in the U.S. and, for now at least, faces no existential threat to justify fleeing entirely.
