Coinbase, the US-based cryptocurrency exchange, has received regulatory approval from the French regulator Autorité des Marchés Financiers (AMF) to offer its crypto exchange services and products in France. This approval, known as the Virtual Assets Service Provider (VASP) registration, allows Coinbase to provide digital asset custody and trading services to both retail and institutional customers in compliance with French financial and market regulations, as well as European Union laws.
This regulatory milestone is seen as a significant step for Coinbase in its expansion plans across Europe. The company aims to bring the benefits of cryptocurrency to a global audience while prioritizing consumer asset security and compliance. France, with its thriving web3 ecosystem, presents an exciting opportunity for Coinbase to contribute to the growth of the crypto industry.
The approval comes at a time when the adoption of cryptocurrency in France is on the rise. According to a recent survey, 10% of the French adult population currently owns cryptocurrency, and 24% have plans to buy, sell, or trade crypto in the next 12 months. This, combined with the regulatory clarity provided by the European Union’s Markets in Crypto-Assets Regulation (MiCA), makes France and the rest of the European bloc an important market for Coinbase.
While Coinbase continues to pursue international expansion by seeking licenses and registrations in tier 1 regulatory jurisdictions, the company is also focused on advocating for regulatory clarity in the United States. Coinbase recently filed an appeal against the US Securities and Exchange Commission’s (SEC) decision to reject its petition for crypto rulemaking. The petition seeks new rules to govern the crypto industry.
In conclusion, Coinbase’s regulatory approval in France marks a significant milestone in its European expansion plans. With the growing adoption of cryptocurrency in France and the rest of the European bloc, Coinbase aims to bring the benefits of crypto to a global audience while ensuring compliance and consumer asset security.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | 🇫🇷 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Daniel Seifert |
| Companies | Autorité des Marchés Financiers (AMF), US Securities and Exchange Commission (SEC), European Union (EU), Circle, Coinbase |
| Currencies | None |
| Securities | None |
