Coinbase will Incorporate in Texas, Citing ‘Legal Climate’

Cryptocurrency exchange Coinbase will re-incorporate into Texas from Delaware, a move that highlights the respective states’ legal and regulatory environments.

In a post on Wednesday X, Coinbase Chief Legal Officer Paul Grewal he said the crypto exchange would move its incorporation to Texas. In a Wall Street Journal op-ed, Grewal he wrote that Delaware’s court climate had become “fraught with unpredictable outcomes” while Texas offered “efficiency and predictability.”

“This decision was not made lightly, but we will always do what is best for our customers, our employees and our shareholders,” Grewal said.

Coinbase announced in 2021 as the COVID-19 restrictions eased in the United States that close your physical location in San Francisco as part of the company’s “remote first” policy.

Although the crypto exchange has since opened another location in the city and has offices in New York, it was incorporated in the state of Delaware.

This is a developing story and more information will be added as it becomes available.