US-based crypto exchange Coinbase recently secured a Bermuda license. This development hints at plans to launch an offshore exchange. At the same time, HedgeUp (HDUP), has been showing excellent potential. Will it manage to top Shiba Inu (SHIB) and Polkadot (DOT) in the coming months?
Coinbase Gets Bermuda License
Coinbase has revealed that it has secured a license to operate in Bermuda. In a recent blog post, the US-based crypto exchange announced they had received their regulatory license to operate from the Bermuda Monetary Authority (BMA).
The license is a Class F License given under the Digital Asset Business Act. The company will be able to conduct token issuance and sales among a wide range of other activities.
This development came just a day after Coinbase’s CEO Brian Armstrong said that crypto firms are now looking to develop in offshore havens.
Armstrong pointed out that crypto is languishing in doubt and uncertainty right now. Specifically in western countries like the US and the UK, regulators have been slow to finalize the status of cryptocurrency. That hasn’t stopped enforcement agencies, such as the SEC, from going after companies like Coinbase, muddying the waters even more.
To this point, Forbes reported that Coinbase is planning to launch an exchange in Bermuda soon.
But as all this was happening, EU lawmakers approved a comprehensive framework for crypto regulation. The head of the Securities Exchange Commission (SEC) also appeared before the House of Financial Services Committee where he said crypto markets suffer from a lack of regulatory compliance, not a lack of regulatory clarity.
Will HedgeUp (HDUP) top Shiba Inu (SHIB) and Polkadot (DOT)?
In other news, the Web3 investment project HedgeUp (HDUP) has been showing signs of strong performance in the next bull run. This has led investors to wonder whether HedgeUp (HDUP), which is currently in presale, will outperform existing ones like Polkadot (DOT) and Shiba Inu (SHIB).
HedgeUp (HDUP)’s platform will allow everyday people to invest in alternative assets. Through NFTs, they will be able to make fractional purchases of watches, jewelry, wines, whiskey, gold, diamonds, and more.
The HedgeUp (HDUP) project has demonstrated a lot of potential to change the dynamics of the alternative assets market. As a result, some experts predict that it may 30x in 2023.
Polkadot (DOT) and Shiba Inu (SHIB) may also perform well in the next bull run, but it is unlikely that they will reach the levels of HedgeUp (HDUP) in terms of pure growth.
Polkadot (DOT) is currently trading at $5.93 while Shiba Inu (SHIB) sits at $0.00001026. HedgeUp (HDUP), on the other hand, is in presale. The token currently goes for $0.013. Interested investors can get it on HedgeUp (HDUP)’s website.
For more information on HedgeUp (HDUP) click the links below:
Telegram Link: https://t.me/HedgeUpChat
Official Website: https://hedgeup.io
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