Coinbase’s Head Of Global Expansion To Depart As Exchange Quickens Overseas Diversification

Coinbase is to lose the man who leads its international business development just as it intensifies efforts to expand overseas.

Nana Murugesan, vice president of international business and development for the past two years, announced his departure to leave in a post on X.

He said he will leave in the first quarter of next year, but will then serve in an advisory role until July to help with the the transition.

1/3 Really enjoyed my two incredible years at Coinbase. Thank you @brian_armstrong, @emiliemc and team for this amazing journey 🫡 It was a privilege to criss-cross the globe to build the foundation for growth. Sharing some reflections on my time here: https://t.co/4h0pwKmtUu

— Nana Murugesan 🛡️ (@NanaMurugesan) November 13, 2023

Coinbase To Lose Key Leader Despite Ongoing Expansion Plans

The move comes after the company began a concerted effort to expand overseas amid regulatory scrutiny in the US.

An official announcement in September, which was co-written by Murugesan, said the exchange had ventured into phase two of its international expansion blueprint under the “Go Broad, Go Deep” initiative.

During the same month, Murugesan disclosed in an interview that Coinbase was open to collaborating with finance ministries, central banks, and regulators to push for certain principles that are shared amongst nations.

Besides the September revelation, another October announcement by Coinbase revealed that it had secured a full license to operate in Singapore. Both developments are enablers to the exchange’s plans to expand its offerings, including those involving its Digital Payment Token, COIN, and broader crypto trading services.

Coinbase Still Waist-Deep In Regulatory Troubles In The US

Meanwhile, the exchange remains on the radar of the US Securities and Exchange Commission (SEC). The financial regulator had levied charges against the exchange in June, alleging that Coinbase traded in unregistered securities. Among the tokens that were named include Solana (SOL), Cardano (ADA) and Polygon (MATIC).

In a recent development, Coinbase hit back against the lawsuit, accusing it of regulatory overreach.

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• Coinbase Accuses SEC Of Overreach in Lawsuit, Says It Wants Regulatory Authority To Match Its ”Ambition”
• Coinbase Decides to Open-Source Smart Contracts on its L2 Blockchain Base

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