Governments around the world are increasingly turning their attention to the cryptocurrency sector following the announcement of the U.S. Strategic Bitcoin Reserve by President Trump. Brian Armstrong, the CEO of Coinbase, has claimed that since the news of the reserve broke, Coinbase has been actively engaging with various government entities both within and outside the United States.
In a recent tweet, Armstrong revealed that Coinbase is currently working with 145 U.S. government organizations and 29 international organizations. These entities are seeking assistance with custody, trading, and blockchain infrastructure in order to safely embrace cryptocurrencies. The exchange now collaborates with government bodies at the federal, state, and local levels in the U.S., as well as with entities in 29 countries outside the U.S.
The establishment of the U.S. Strategic Bitcoin Reserve has generated significant interest, prompting other departments to consider incorporating digital currencies into their financial systems. The recent crypto summit held at The White House has also drawn attention to the growing popularity of cryptocurrencies among governments worldwide.
Armstrong highlighted that Coinbase has successfully registered with the Indian Financial Intelligence Unit (FIU), a crucial step towards resuming operations in India. With the expanding crypto market in India, Coinbase sees an opportunity to increase its market share. It is not just exchanges like Coinbase that are interested in Bitcoin; governments are also exploring blockchain technology for secure transactions, record-keeping, and financial management.
Currently, Coinbase remains actively involved in supporting government institutions through portfolio management, due diligence, and technological assistance. The company has ambitious plans to hire 1,000 employees in 2025, signaling its confidence in the crypto industry and regulatory environment.
The increasing government interest in cryptocurrencies and blockchain technology reflects a growing acceptance and adoption of digital assets on a global scale. As governments and institutions continue to explore the potential of cryptocurrencies, companies like Coinbase are poised to play a crucial role in facilitating this transition towards a more crypto-friendly financial landscape.