The exchange already has an active presence in the UK, Ireland, and Germany, but wants to set up operations in Spain, Italy, France, the Netherlands, and Switzerland. Coinbase is in talks to get approval under anti-money laundering rules in several countries.
Earlier in June 2022, Coinbase announced it would lay off 18% of its workforce, while other firms including Gemini and BlockFi haven taken similar steps amid a fall in crypto prices.
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