Coinbase Faces Tech Issues Amid Regulatory Challenges

Coinbase Global (NASDAQ: COIN) is reportedly experiencing technical difficulties.

The company's support team announced on Twitter that users were facing intermittent failures when logging in, initiating trades, and accessing the Earn page on both the Coinbase website and mobile app.

The company says its support team is actively working on resolving these technical issues and has promised to provide updates as soon as possible. However, the exact cause of these technical difficulties remains unclear.

We’re looking into an issue where customers are seeing intermittent failures when logging in, initiating trades, and viewing the Earn page on https://t.co/ohqDivlp6Y and the Mobile App. We’ll post an update here asap.

— Coinbase Support (@CoinbaseSupport) July 31, 2023

The combination of regulatory challenges and technical difficulties could pose significant hurdles for Coinbase. As we reported earlier, the U.S. Securities and Exchange Commission (SEC) wants the company to delist all cryptocurrencies except Bitcoin.

This move would impact the cryptocurrency market and Coinbase's operations, given the platform's extensive list of tradable digital assets.

The platform's ability to quickly resolve these issues will be crucial in maintaining user trust and ensuring smooth operations.