Coinbase envisages listing of more meme coins amid regulatory optimism
|- Coinbase's Vice President Tom Duff Gordon said that the exchange will likely be able to offer services related to smaller crypto tokens, including meme coins.
- The executive anticipates regulatory clarity and market expansion under Donald Trump’s administration, driven by his pro-crypto stance.
- Coinbase faces legal hurdles from the SEC, including accusations of operating an unregistered securities exchange.
Donald Trump's expected return to the White House creates excitement in the cryptocurrency sector, especially at Coinbase, the largest US-based crypto exchange. The platform is optimistic that the new administration will focus on regulatory clarity, which could lead to more token listings, including popular meme coins.
In an interview with Bloomberg, Tom Duff Gordon, Coinbase’s VP of International Policy, discussed the company's strategy for expanding its offerings.“Once the Trump administration provides clearer details about its plans for the digital-asset sector, Coinbase will have greater opportunities to engage with projects and tokens that were previously inaccessible,” he said.
Trump's victory spurs crypto market revival
The crypto market has significantly risen amid expectations that Donald Trump will implement policies supporting cryptocurrencies. Trump's promise to hire crypto-friendly regulators and his plan for a strategic Bitcoin store are major changes from how strict regulators have been in the last years.
Coinbase will expand its listings to include smaller tokens like meme coins, which continue to thrive despite increased regulatory scrutiny.
Although Coinbase is a well-known venue for major cryptocurrencies like Ethereum, it struggles to increase the availability of tokens. US authorities, especially the Securities and Exchange Commission (SEC), have caused significant legal challenges and pose a significant threat by labeling several cryptocurrencies as securities. Coinbase is under an SEC lawsuit for running as an unregistered securities exchange and inappropriately providing staking services,
Coinbase is diversifying operations to lessen reliance on the unstable US market. In 2023 the company launched a global platform in 38 countries, including major markets like Singapore, Australia, and France. It also launched a derivatives exchange in Bermuda to access high-volume international trading markets.
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