The SEC’s all-out attack could put an end to the gloomy outlook for the crypto industry in the United States. So much so that even its most important company, Coinbase, is already openly talking about leaving. Beyond the value of different cryptocurrencies, the industry is going through turbulent times not knowing exactly what position different governments and administrations will decide to take.

From disappointment to displacement. In an interview at the Finance Global Summit, Coinbase CEO Brian Armstrong stated that “everything is on the table, including relocation.”

“We talked to them more than 30 times in the last year … we didn’t get a single comment on what we could have done better or different,” Armstrong explains, resigning. “Like any business, we have a budget and we have to decide where to allocate it. It also means which countries we want to invest in.”

The SEC goes after cryptocurrency, but the US remains unregulated. The criticism of crypto companies, driven by the words of the Coinbase CEO, is that the SEC blames multiple exchanges but there is no clear regulation to follow.

They say they are prepared to go to trial that could take years as long as there are judges who will clarify to what extent cryptocurrencies are unregistered values ​​from Coinbase and what kind of liabilities they have.

I’m looking at the rest of the world. Coinbase is in the process of internationalization. The company is listed in the United States, but has also expanded to Brazil and Singapore.

84% of the company’s revenue comes from US customers, but moving elsewhere shouldn’t affect this fee.

Next stop: England. This week, they pointed out from Coinbase that the UK is one of the markets potentially most interested in crypto. According to their data, 28% of Britons plan to transact with cryptocurrencies this year.

They recall that they are working on a regulatory framework in the UK, with the government open to trial blockchain projects, with the aim of providing clarity on taxes and related fees.

MiCA can make Europe the clearest destination. Also this week, the European Union is preparing to approve the ‘Crypto Asset Markets’ regulation, better known by the abbreviation MiCA. This does not mean that Europe will unleash crypto projects, but it aims to clearly define what is allowed and what is not.

It is a regulatory framework that companies that own Coinbase view very positively, unlike the United States, where decisions are made on a per-company basis.

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