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Coinbase Secures Australia Regulatory Approval
After a turbulent time with Australia’s financial regulators and policymakers, the US largest cryptocurrency exchange has finally secured regulatory approval from Australian regulators.
In a recent interview with the media, Coinbase’s VP of international, Nana Murugesan said that the US-based exchange faced “tough questions” from Australian authorities before securing the country’s regulatory approval.
While speaking to the Media, Murugesan furthered that building during bear markets has “paid off big time during the bull run” and he’s confident in what he sees in the local market.
“We’ve been very impressed with the open door that we’ve received in Canberra and with different policymakers,” says Murugesan.
Before the recent regulatory approval, Armstrong Coinbase has been providing crypto traders from Australia with new “fast payments” for local bank accounts, access to the Coinbase advanced platform and 24 hours chat support which “opens doors” for Coinbase to launch its full range of institutional and development products.
While he didn’t have a specific timeline on when the products will become available, Murugesan added he knows Australian institutions will want to “do everything locally” and added that Coinbase will be “very much focused on institutions” in the coming months.
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