Cryptocurrency exchange Coinbase has launched a zero-fee subscription service named Coinbase One in the US, the UK, Ireland, and Germany. Coinbase initially introduced this service in the US as part of a beta programme but has now launched it officially and expanded its availability to other parts of the world.

Coinbase One costs USD 29.99 a month, and the company plans to bring it to more countries in the coming months as part of an international expansion strategy. Frequent traders can benefit from this service by executing more trades on hundreds of assets without worrying about trading fees on every transaction. For longer-term investors, the system was designed to help them get the most out of the crypto economy.

Since this is a subscription service, Coinbase emphasised that users can’t share the subscription. Additionally, for security reasons, they need to ensure that they’re the only ones that can access their Coinbase accounts. Users can pay for Coinbase One through their linked bank accounts, linked debit cards or with USDC or USDT as long as they have a balance of at least USD 100 and are based in the US.

The subscription can also be paused for one month via the Manage Subscription section. During the pause, users will not be billed for Coinbase One and will still have access to account protection and priority support. However, they won't have access to zero trading fees, prefilled tax form 8949, or partner deals.

Other developments from Coinbase In April 2023,  Coinbase has filed a lawsuit against the Securities and Exchange Commission over a lack of response to a petition from 2022. Coinbase’s actions aim to compel the SEC to provide a response to an original petition, which inquired whether the SEC would propose and adopt rules to govern the regulation of securities that are offered and traded via digitally native methods. Even though the SEC never responded to the petition, Coinbase’s chief legal officer Paul Grewal asserted that the SEC has already made up its mind to deny it based on its enforcement activity in the crypto industry.

Grewal also emphasised that more than 1,700 entities and individuals have submitted comments to Coinbase’s petition thus asking for regulatory clarity in the crypto sector. In the same month, Coinbase CEO Brian Armstrong revealed the possibility of implementing the Bitcoin Lightning Network via a Twitter post as he replied to a user that questioned the company’s lack of public comments on the scaling solution. The Coinbase CEO revealed that his tweets auto-delete after a few months, which caused the lack of history.

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