Coinbase Launches Zero Trading Fee Subscription Service

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Coinbase had been actively testing and advancing beta versions since 2021, and has expanded it beyond the United States to now include the United Kingdom, Germany, and Ireland.

Coinbase has launched a zero trading fee subscription service, Coinbase One, aiming to enhance the trading experience for its users. This service allows its customers to subscribe to a monthly plan that eliminates trading fees for a fixed monthly fee. The exchange had been actively testing and advancing beta versions since 2021, and has expanded it beyond the United States to now include the United Kingdom, Germany, and Ireland. Currently, Coinbase One is available in 35 countries.

For monthly subscription of $29.99, users will be entitled to no trading fees and higher staking rewards. For the U.S., there is an exclusive “pro” feature wherein customers will be provided pre-filled taxation paperworks, access to insights and analytics by Messari, and a free six-month trial for CoinTracker crypto portfolio analytics.

the coinbase one logo
Coinbase One has finished beta testings, and is now available in 35 countries. Image Source

Coinbase’s efforts on the Regulatory Front

As US regulatory pressure on cryptocurrency platforms continues to mount, Coinbase expressed its admiration for Canada’s approach to crypto regulation. The exchange lauded Canada’s proactive stance, emphasizing its collaborative and principles-based approach towards regulating the digital asset industry. On the other hand, Binance recently announced that it would no longer operate in Canada over their stringent rules.

Coinbase’s operations are heavily based in Canada, with almost 200 engineers based there. The exchange also signed Canada’s enhanced PRU. Infact, Coinbase has plans to integrate Interac payment network to its platform.

The SEC has not yet responded to Coinbase’s petition, which has led to frustration and uncertainty within the cryptocurrency industry. Image Source

Coinbase had filed a motion in July 2022 seeking court intervention to compel the US Securities and Exchange Commission (SEC) to regulate the cryptocurrency market. Coinbase’s legal action aims to address the lack of clear regulatory guidelines and establish a framework that would provide certainty for market participants.

Read: Coinbase vs SEC: Crypto Regulation Woes

While Coinbase has taken a proactive approach in seeking regulatory clarity, it has faced criticism regarding the need for crypto-specific regulations. Regulators have argued that the leading crypto exchange has not adequately demonstrated the necessity of such regulations. crypto trading platform Mandamus had also moved the U.S. Court of Appeals for the Third Circuit amidst the scuffle.

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