Coinbase CEO Brian Armstrong has hinted that the cryptocurrency exchange may relocate from the United States to the United Kingdom due to the US's lack of regulatory framework for cryptocurrencies. Armstrong tweeted about a "great meeting" with UK Economic Secretary to the Treasury Andrew Griffiths, praising the UK's positive outlook on emerging technologies and cryptocurrencies.

He also noted that the US has a "turf battle" between two distinct authorities who have made public contradicting comments, whereas the UK's Financial Conduct Authority controls both commodities and securities.

In response to Armstrong's comments, Coinbase released a blog post stating that "things are happening in Europe that are edging the region ahead" and that "the region is preparing for a seismic change in how it uses and thinks about money." Armstrong is in London for UK FinTech Week and discussed the UK's regulatory system with former chancellor George Osborne, stating that he hopes the UK will become "a financial hub."