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Coinbase Receives Regulatory License to Operate in Bermuda, Plans to Launch Derivatives Exchange

Cointime Official

April 20 (Cointime) - Coinbase revealed it had "received our regulatory license to operate from the Bermuda Monetary Authority" — the nation's financial regulator, according to an official blog post. In addition, it's reportedly set to launch a derivatives exchange based there as soon as next week.

As per the Bermuda regulator, Coinbase has been granted a Class F License under the Digital Asset Business Act. This license enables Coinbase to engage in various activities including token sales and issuance, and function as a digital asset exchange as well as a provider of digital asset derivatives exchange.

“Bermuda was one of the first financial centers to pass comprehensive digital assets regulation in 2018, and its regulatory environment is long known for a high level of rigor, transparency, compliance, and cooperation,” Coinbase said in its blog post.

According to a report from The Block last month, Coinbase was examining the possibility of launching an overseas platform for trading perpetual swaps linked to cryptocurrencies.  A recent report by Fortune suggests that this expansion may occur as early as next week.

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