Brexit: Coinbase will keep the E-money service open
Brexit: Coinbase will keep the E-money service open
Blockchain

Brexit: Coinbase will keep the E-money service open

By Alfredo de Candia - 30 Oct 2019

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In the last few hours, Coinbase users have received an email with which they were informed about the progress of Brexit, the current highlight, explaining that they will extend E-money support to their customers for the time being.

brexit coinbase e-money service

This email comes after the previous one last month in which customers were warned that, if there was no Brexit agreement, then Coinbase would have to close the E-money service, which is the euro wallet, and that to make up for it Coinbase would have to look for a different solution, moving to another country within the European Union.

Coinbase’s plan B would have been due by October 31st, if England had not reached an agreement with the EU. While waiting for the no deal to be averted, Great Britain has obtained an extension for the exit from the European Union, and this has also benefited Coinbase.

“In light of the extension to Brexit recently agreed by the EU, we will continue to provide you with E-Money Services from the UK for the time being. We will be in touch with more information if the situation changes”.

Obviously, if things change in the future, the situation could become complicated for Coinbase, which, in fact, is located in the UK.

For the moment, therefore, the end-user can only appreciate the positive situation of the last few days and breathe a sigh of relief, considering that the situation may not be the same in the future. It might be wise to withdraw the funds from Coinbase: perhaps it would be better to opt for a non-custodial wallet, for example.

We can only have an external perspective on how the situation could evolve and how Brexit will influence the sector: whether it will be able to lead to a more crypto-friendly world or whether it will set regulatory boundaries that will make life complicated for operators in the industry.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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