(Reporting by Siddarth S in Bengaluru; Editing by Shilpi Majumdar)
May 2 (Reuters) - Coinbase Global Inc launched
an international exchange for cryptocurrency derivatives on
Tuesday, as the company looks to expand its global footprint
amid escalating tensions between the crypto sector and
regulators in the United States.
The exchange will let institutional users in eligible
jurisdictions outside the U.S. to trade in perpetual futures,
Coinbase said.
The digital assets industry is recovering from several
blow-ups last year, including the bankruptcy of Sam
Bankman-Fried's crypto exchange FTX.
Last month, Coinbase Chief Executive Brian Armstrong had
warned that crypto firms would develop in "offshore havens",
unless the U.S. and Britain make their rules for the industry
much clearer.
Coinbase, engaged in a tussle with the U.S. Securities and
Exchange Commission, said on Tuesday that countries around the
world were developing themselves as crypto hubs due to a
responsible regulatory framework.
"We would like to see the U.S. take a similar approach
instead of regulation by enforcement, which has led to a
disappointing trend for crypto development in the U.S.," the
crypto exchange said.
Separately, another crypto exchange Gemini on Tuesday
launched a derivatives platform for trading perpetual futures,
outside the U.S. jurisdiction.
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