Coinbase Expelled from British Bankers' Association After Two-Year Campaign
1 report, 1 independent
Updated Wed 00:00
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What happened
The British Bankers' Association has expelled Coinbase from its membership. The UK Finance board sent a letter to Coinbase terminating its membership after a review concluded that cryptocurrency exchanges did not meet the association's criteria. Coinbase has the option to appeal the decision.
From techtimes.com
Why it matters
The expulsion follows a two-year lobbying campaign by Coinbase aimed at reshaping British financial regulation. This move highlights a growing divide between traditional finance and the emerging crypto sector regarding who sets the rules for digital assets.
From techtimes.com
Who's involved
- CoinbaseAmerican company campaigning to influence UK financial regulation.
- British Bankers' AssociationTrade association representing the UK banking and financial services sector.
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The entities involved
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Coinbase
American company that operates a cryptocurrency exchange platform