Coinbase General Counsel: Base token issuance may be feasible, Coinbase to be discontinued in Taiwan! Withdrawals required by 9/25

Since the launch of the L2 blockchain Base by the exchange Coinbase in July this year, its popularity has been gradually increasing. Coupled with the popularity of the social application friend.tech, it has further driven user numbers. In addition, Base, which initially claimed not to issue coins, seems to have new possibilities. Let's take a look at what Coinbase's general counsel said in an interview.

Base Does Not Rule Out the Possibility of Issuing Tokens in the Future

According to a report by Decrypt, during the Mainnet 2023 blockchain summit hosted by Messari in New York, Coinbase's Chief Legal Officer Paul Grewal was interviewed by Decrypt and asked, "What needs to happen or could happen to make token issuance feasible for this technology?"

In response, Paul gave a vague answer, stating, "Tokens might be feasible at some point in the future, not something we've ruled out entirely. But from the standpoint of Coinbase, the primary goal of launching Base is to introduce tools and technology to encourage experimentation, and the economy and tokenization are less of our focus."

Furthermore, Paul mentioned that it is still in the very early stages, and the initial goal of Base is to increase opportunities by providing technology to allow developers to unleash their creativity.

Coinbase Ceases Support for Users in Taiwan, Withdrawals Required by 9/25

While Coinbase has softened its stance on airdrops, unfortunate news has emerged regarding Coinbase's operations in Taiwan.

According to a report by Zombit, many users of Coinbase in Taiwan have recently received emails notifying them that services will be discontinued after 9/25, and assets need to be withdrawn before this date.

Note: The self-hosted Coinbase Wallet can still be used.

After verifying with the official source, Coinbase has confirmed that it will no longer provide services to Taiwan, but the specific reasons for this decision have not been disclosed.

Coincidentally, Taiwan is set to release regulatory guidelines at the end of September, providing clearer restrictions on Virtual Asset Service Providers (VASPs) in Taiwan.

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