Crypto Firms Start Looking Abroad as U.S. Cracks Down – The New York Times

The wave of government enforcement against cryptocurrency companies is beginning to remake the industry.

Coinbase, the largest crypto exchange in the United States, has opened a business in Bermuda. Gemini, a rival firm based in New York, is seeking a license in the United Arab Emirates. And Bittrex, an exchange in Seattle, has shut down its U.S. operations.

After years of trying to shape federal regulation in the United States, a growing number of American crypto companies — particularly the exchanges where customers buy and sell digital tokens — are exploring plans to build their businesses abroad. They are expanding into new markets and weighing the possibility of leaving the country entirely.

Source: Crypto Firms Start Looking Abroad as U.S. Cracks Down – The New York Times