HomeNewsCoinbase's French Triumph: VASP Accreditation Achieved

Coinbase’s French Triumph: VASP Accreditation Achieved

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  • Coinbase has received the Virtual Asset Service Provider (VASP) license in France, enabling it to offer an extensive range of cryptocurrency services.
  • France’s crypto-friendly policies aim to attract crypto businesses, offering a more stable regulatory environment than the United States.

Coinbase’s Strategic Expansion in France

Coinbase, one of the world’s leading cryptocurrency exchanges, has marked a significant achievement in its international expansion by securing the Virtual Asset Service Provider (VASP) license from France’s financial market authority (AMF).

Enhancing Crypto Services in France

This new status grants Coinbase the ability to provide both private and institutional clients in France with a comprehensive suite of products and services. This includes the custody of digital assets and facilitating the purchase, sale, and trading of these assets against fiat currency. The move is timely, considering France’s active efforts to attract cryptocurrency companies by offering a clearer and more stable regulatory environment compared to the United States.

France’s Crypto-Friendly Policies

The imminent Markets in Crypto Assets (MiCA) legislation by the European Union, which seeks to harmonize crypto regulation across the 27-member community, is set to further boost France’s appeal as a crypto-friendly nation. This environment is conducive for companies like Coinbase, which are seeking jurisdictions with a transparent and clear regulatory framework for the cryptocurrency industry.

Coinbase’s Regulatory Challenges in the US

In the United States, Coinbase has been vocal in advocating for tailored regulation for the crypto sector. However, the Securities and Exchange Commission recently dismissed these demands as “unjustified.” In response, Coinbase has been establishing its presence in countries with a more transparent and clear regulatory framework for cryptocurrencies.

Coinbase’s Growing Regulatory Footprint in Europe

Coinbase’s registration in France is part of its expanding list of licenses and registrations across Europe, including an e-money license in Ireland and registration in Spain, with Ireland serving as the EU hub. Moreover, Coinbase has obtained operating licenses in Bermuda and Singapore.

As Coinbase expands its regulatory footprint, its stock price has seen a notable increase, reflecting regained investor confidence in the crypto exchange. Investors welcome the company’s strategic direction and the broader potential of the crypto market.

In conclusion, Coinbase’s acquisition of the VASP license in France represents a strategic step in its global expansion, positioning it to leverage the nation’s crypto-friendly policies and regulatory stability. This move not only enhances Coinbase’s service offerings in Europe but also signifies the growing importance of regulatory compliance in the global cryptocurrency market.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628