Coinbase Now Works with 145 U.S. Government Agencies Amidst Rapidly Shifting Cryptocurrency Regulatory Landscape

Coinbase is now working with 145 U.S. government agencies and 29 international ones amid a rapidly shifting cryptocurrency regulatory landscape.

Coinbase is working with 145 U.S. government agencies and 29 international ones amid a rapidly shifting cryptocurrency regulatory landscape.

The launch of the U.S. Strategic Bitcoin Reserve has increased institutional interest in crypto, Coinbase CEO Brian Armstrong said in a Mar. 13 X post. Coinbase aims to help governments securely trade, store, and use digital assets, encouraging more agencies to move on-chain. Armstrong also invited government institutions to reach out for crypto-related services.

Coinbase has emerged as a preferred partner for government agencies because of its robust security and compliance structure. The company holds 43 money transmitter licenses, a BitLicense in New York, and NYDFS oversight, allowing it to operate in every state in the U.S.

It is also registered in important international markets, including Europe, Singapore, Canada, and the United Kingdom. Coinbase safeguards nearly 12% of the world’s crypto assets and is the custodian of choice for major financial institutions offering spot crypto exchange-traded funds, according to a blog post on their website.

In response to the rising demand from institutions, Armstrong has hinted at plans to add 1,000 new staff members by 2025, citing increased regulatory clarity. Following his attendance of the White House crypto summit, he noted that the change in U.S. regulatory policy gives Coinbase greater confidence to make domestic investments.

"We’re now working with 145 US government agencies and 29 international ones to help them learn about and use crypto more effectively," Armstrong stated.

"If any government institutions out there are interested in learning more about crypto or how Coinbase can help, please don’t hesitate to reach out."

Coinbase has been expanding its services to include more government clients despite recent reports of layoffs and a shift in strategy. In February, Coinbase announced the launch of Coinbase International, a subsidiary that will provide services to institutions outside the U.S., focusing on liquidity solutions and market making.

The company is also planning to add 1,000 new staff members by 2025 as it expands its operations in response to increased demand for crypto services from institutions.