Coinbase may consider relocating outside U.S., CEO Brian Armstrong says

Coinbase Global ( NASDAQ: COIN ) CEO Brian Armstrong said Tuesday that the San Francisco-based cryptocurrency exchange would consider relocating outside the U.S. if the country's regulatory clarity for the emerging space does not improve, according to several media reports. When asked by former U.K. Chancellor of the Exchequer George Osborne at Fintech Week in London whether COIN would consider moving to Britain, Armstrong reportedly said: "anything is on the table, including relocating or whatever is necessary." The CEO's remarks come as the U.S. Securities and Exchange Commission sent a warning to Coinbase ( COIN ) -- the largest U.S.-based crypto exchange with some 100M verified users -- that the regulator recommended enforcement action against the company for allegedly breaching securities laws. It's worth mentioning that the SEC, among other regulators, has been ramping its crackdown on illicit activities within the crypto industry. On Monday, for instance, it charged fellow crypto exchange Bittrex for allegedly running an unregistered national securities exchange, broker and clearing agency. “The US has the potential to be an important market in crypto, but right now, we are not seeing that regulatory clarity needed,” Armstrong continued, as quoted by Bloomberg . “I think if a number of years go by where we don’t see regulatory clarity emerge in the US, we may have to consider investing more in other regions of the world.” Towards the end of March, Coinbase ( COIN ) was said to be in discussions with regulators about securing the appropriate license to continue operating in Canada, as the country's umbrella markets watchdog seeks to stiffen rules for such platforms. More on the Crypto Clampdown G-7 said to promote tougher crypto rules amid global banking drama SEC warns of ‘significant’ risk of loss for crypto investors SEC sues Tron founder Justin Sun for fraud Coinbase: Invest If You Believe In Crypto