Coinbase won’t participate in the Flare airdrop

On December 12., the Flare Network will snapshot the XRP network, and based on the state, they will be distributing the Flare tokens to the XRP holders. More big exchanges and wallet-services have joined the movement, but one of the biggest, Coinbase seems to miss the opportunity. At least, until now, they didn’t say the opposite.

Next to them, the Kraken and the Binance.US also won’t participate in the airdrop. The most possible reason for staying away is USA regulation. The airdropped tokens are revenue in the USA, with legal, taxation liabilities, what’s means more administration and paperwork for the service