Bloomberg reports that Coinbase is considering establishing a trading platform outside of the United States.

Coinbase, a U.S.-based cryptocurrency exchange, is reportedly exploring the possibility of setting up a cryptocurrency trading platform overseas. The company is discussing the move with its institutional clients, but no decision has been made on the platform's location. This development comes as U.S. regulators are taking a stricter stance on cryptocurrencies, partly due to the collapse of FTX in November 2022, which prompted lawmakers to take notice. Other U.S. cryptocurrency firms are also looking for new banking partners in foreign jurisdictions. Coinbase stated that it is meeting with government officials in highly regulated areas as it seeks to expand global crypto adoption.