Coinbase's vice president of international and business development

Coinbase's vice president of international and business development, Nana Murugesan, has recently confirmed that the popular crypto exchange's executive team, including the CEO Brian Armstrong, are in the United Arab Emirates (UAE) for strategic development in the region. On his official Twitter account, Armstrong praised UAE for the first dedicated crypto regulator in the world, a clear rule book, strong customer protections, and a business-friendly approach. The move came shortly after the U.S.-based crypto exchange launched a new Bermuda-based international derivatives exchange;for institutional crypto traders outside the U.S. The firm's executive team is also in talks with the UAE's regulators for the potential availability of its new derivatives exchange in the region. Both Armstrong and Murugesan said the UAE could become a strategic hub for Coinbase. The exchange has also entered negotiations with the regulators in Abu Dhabi and Dubai to obtain additional licenses for its new trading platform. In April, Armstrong said Coinbase could move its headquarters outside the U.S. if the regulatory environment does not change in the country. However, during the firm's earnings call for Q1, the famous CEO underlined that the company is fully committed to the U.S. despite the regulatory uncertainty. Coinbase's global expansion plans have intensified following;the increased tension between the platform and the U.S. Securities and Exchange Commission (SEC). The conflict ended up with Coinbase entering into a legal battle with the SEC to force the agency to create a clear framework for digital assets. The SEC mainly claims that Coinbase could violate the securities laws through its exchange and staking services, while the popular crypto exchange complains about the lack of regulatory clarity in the U.S. that it holds the agency responsible for.