Coinbase Receives Registration with French Markets Regulator
Crypto exchange Coinbase has obtained registration with France’s markets regulator, securing a virtual asset service provider approval. The VASP registration will allow the company to offer custody of digital assets, buy or sell digital assets in legal tender, and trade digital assets against other digital assets.
Earlier this month, Coinbase expanded its plan to grow outside of the U.S. by allowing non-U.S. institutions to use its cryptocurrency exchange for spot trading. The company’s international arm also intends to provide comprehensive services to retail customers and add more digital assets to the platform.
Coinbase Dispute with SEC
In the U.S., Coinbase has been involved in a lengthy dispute with the Securities and Exchange Commission (SEC) over allegations of operating as an unregistered exchange. CEO Brian Armstrong has been advocating for clear rules to avoid stifling innovation and driving it offshore.
Stablecoin issuer Circle also announced that it received regulatory licensure in France.
About Author
MK Manoylov has been a reporter for The Block since 2020, covering various crypto news topics. MK holds a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP).
Hot Take: Coinbase Expands Further into Europe with French Registration
Coinbase’s registration with France’s markets regulator is a significant step in expanding its presence in Europe. By obtaining virtual asset service provider approval, Coinbase can now offer various services related to digital asset trading and custody. This move aligns with Coinbase’s strategy of growing its international operations and catering to both institutional and retail clients worldwide.
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