UK Finance Drops Coinbase Over Membership Criteria

UK Finance, one of the UK's most influential finance lobby groups, has dropped Coinbase from its membership. The company was notified in a letter last week that its membership was being ended due to not meeting the organization's criteria.

According to sources, after reviewing its membership framework, the board decided that crypto exchanges do not meet its requirements. However, it's reported that Coinbase can appeal this decision.

This move comes as digital asset companies have become a bigger force in policy debates globally, often taking positions that differ from those of traditional lenders. Coinbase and its CEO Brian Armstrong have been among the most outspoken champions of crypto in conversations with lawmakers and policymakers around the world.