Coinbase To Move Euro Accounts Amid Brexit
One of the largest bitcoin crypto brokers and exchanges, Coinbase, will be moving all Euro accounts to an undisclosed licensed Coinbase entity within the EU jurisdiction.
The current electronic money institution authorized and regulated by the UK Financial Conduct Authority (FCA) that is based in the United Kingdom, CB Payments, will not be able to provide E-money services for Coinbase.
According to Coinbase, they plan to transfer service requirements from CB Payments to another licensed Coinbase entity within the EU and promised its customers that the Coinbase services they will receive will not be affected by the move.
This move depends entirely if the United Kindom pushes through with its intent to leave the European Union which means they business rights they enjoy from being part of the Union will be revoked.
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