Coinbase Obtains VASP Registration in France, Expands Crypto Services in Europe

coinbaseA well-known American cryptocurrency exchange has received regulatory approval from the French financial market regulator Autorité des Marchés Financiers (AMF). The approval allows Coinbase to expand its services, including digital asset storage and trading, to both domestic retail investors and institutional clients.

Regulatory Greenlight: Coinbase’s VASP License in France

The announcement that Coinbase has obtained Virtual Asset Service Provider (VASP) registration from the AMF marks an important milestone in the exchange’s European expansion strategy. The approval allows Coinbase to comply with regulatory standards by aligning its services with financial regulations in France and the wider European Union.

Coinbase’s Path to Global Cryptocurrency Accessibility

Expressing the significance of this milestone, Daniel Seifert, Vice President and Regional Managing Director for EMEA at Coinbase, emphasized the exchange’s commitment to introducing cryptocurrency benefits on a global scale. Seifert expressed the company’s desire to contribute to France’s thriving web3 ecosystem, emphasizing the importance of secure asset management and regulatory compliance.

Coinbase’s push for international expansion coincides with a Toluna survey that found that 10% of France’s adult population currently owns cryptocurrency. The survey also found that a quarter of French adults are considering buying, selling or trading cryptocurrency in the next year.

Balancing regulatory challenges and expansion efforts

While pursuing global expansion and seeking licensing in key regulatory jurisdictions around the world, Coinbase is continuing its legal battle to clarify the regulatory environment in the United States. Recently, the exchange filed an appeal against the U.S. Securities and Exchange Commission (SEC)’s rejection of its petition for cryptocurrency regulation. This petition aims to establish a new regulatory framework for cryptocurrencies.

Coinbase’s efforts to achieve regulatory clarity in the U.S. come after the SEC’s legal actions against exchanges that allegedly offered unregistered securities and further highlight its ongoing efforts to understand and comply with regulations in the rapidly evolving cryptocurrency space. there is.

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