Coinbase, one of the leading cryptocurrency exchanges, has recently announced its registration to provide cryptocurrency services in France. This registration has been granted by France’s Autorité des marchés financiers (AMF), allowing Coinbase to operate within the country. With this new approval, Coinbase can offer a range of services, including crypto custody, crypto-to-crypto trading, and buying and selling crypto using fiat currency.
This recent registration in France is part of Coinbase’s continuous efforts to expand its services globally. The company acknowledges the importance of gaining Virtual Asset Service Provider (VASP) status in different countries to ensure a secure and compliant environment for its users. Daniel Seifert, Coinbase’s vice president and regional managing director for EMEA, expressed his enthusiasm for the registration, stating that it allows Coinbase to contribute to France’s thriving web3 ecosystem.
Coinbase also recognizes the significance of regulatory frameworks in the cryptocurrency industry. The company specifically endorsed the EU’s Markets in Crypto-Assets Regulation (MiCA) rules, which apply to France as a member nation. Coinbase believes that these regulations provide much-needed clarity and indicate that the EU acknowledges the potential of emerging technologies in the financial sector.
Aside from its registration in France, Coinbase has been actively expanding its presence in other regions. In August, the company expanded its services to Canada, allowing Canadian users to access its platform. In September, Coinbase obtained an AML license in Spain, further enhancing its compliance measures. In October, Ireland was selected as Coinbase’s MiCA hub, demonstrating the company’s commitment to establishing strategic bases in different countries.
Coinbase has also been making significant efforts in its Phase II expansion. The company launched spot trading services through its international arm, Coinbase International, on December 14. This addition complements the existing futures trading offered by the platform, providing users with a comprehensive trading experience.
Coinbase’s continuous growth and expansion efforts have solidified its position as one of the largest cryptocurrency exchanges globally. The platform’s trading volume has been consistently impressive, handling $2.6 billion in trading volume over the past 24 hours, according to CoinGecko data.
Coinbase’s registration in France marks another important milestone in the company’s global expansion strategy. By obtaining VASP approval and embracing regulatory frameworks, Coinbase can offer a secure and compliant environment for users in France. With its extensive range of services and commitment to innovation, Coinbase continues to contribute to the growth and adoption of cryptocurrencies worldwide.