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Crypto News

Coinbase Gains Ground in France as Approved Virtual Asset Services Provider

Author

Jay Solano

Tags

Tags Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice / Slider Posts

Reading time

2 mins
Last update

Author

Jay Solano

Tags

Editor's Choice, Slider Posts

Reading time

2 mins
Last update

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Coinbase’s Strategic Expansion in France

Coinbase, recognized as the third-largest crypto exchange by trading volume, has made significant strides in Europe by securing registration as a Virtual Asset Services Provider in France. This approval by the Financial Markets Authority (AMF) enables Coinbase to offer a comprehensive array of products and services to retail and institutional clients within the French market. The announcement coincides with similar regulatory advancements by other crypto firms, indicating France’s ambition to become a favorable destination for crypto businesses seeking regulatory clarity and stability.

Regulatory Landscape and Coinbase’s Global Presence

France’s welcoming stance towards crypto companies comes when the European Union is gearing up to implement the Markets in Crypto Assets (MiCA) legislation across its member states. This proactive approach contrasts with the regulatory environment in the U.S., where Coinbase is advocating for bespoke rules tailored to the crypto sector, a proposal the Securities and Exchange Commission has deemed “unwarranted.” Amidst these challenges, Coinbase is focusing on expanding its regulated presence in countries offering clear and defined industry policies. Alongside France, the company has established regulatory footholds in other EU countries, including Ireland and Spain, and beyond, with recent licenses in Bermuda and Singapore.

A Pivotal Moment for Coinbase and Crypto Regulation

Coinbase’s registration in France as a Virtual Asset Services Provider marks a pivotal moment in the exchange’s global expansion strategy. By securing a foothold in a country actively seeking to attract crypto businesses through clear regulations, Coinbase enhances its service offerings in Europe and reinforces its commitment to adhering to regulatory standards globally. Coinbase’s proactive approach to securing licenses and registrations sets a precedent for other exchanges as countries continue to refine their regulatory frameworks for the crypto industry. It highlights the evolving relationship between the crypto sector and regulatory authorities worldwide.