Coinbase Secures License to Operate in Canada, Expanding Global Presence

Coinbase Secures License to Operate in Canada, Expanding Global Presence

Cryptocurrency exchange Coinbase has successfully obtained a license to operate in Canada, marking a significant milestone for its expansion efforts beyond its home market in the United States.

The license, granted in Ontario, allows Coinbase to operate as a limited dealer under the oversight of the Canadian Securities Administrators (CSA), which represents the securities regulators of Canada’s provinces and territories.

Lucas Matheson, Coinbase’s country director for Canada, highlighted the extensive efforts involved in securing the license, emphasizing the platform’s commitment to compliance and its role in facilitating access to the digital economy for millions of Canadians.

With this registration, Coinbase becomes the first international cryptocurrency exchange to be formally registered in Canada, positioning itself as a key player in the Canadian market.

Matheson emphasized Coinbase’s strong brand presence in Canada as a publicly traded company committed to regulatory compliance, further solidifying its standing in the global cryptocurrency landscape.

This development follows Coinbase’s recent licensing successes in other jurisdictions, including France and Bermuda. In France, Coinbase received approval from the French stock market regulator (AMF) to provide virtual asset service provider (VASP) services, while in Bermuda, the Bermuda Monetary Authority (BMA) granted Coinbase approval to operate as a regulated entity in the British Overseas Territory.

Coinbase’s expansion into Canada signifies its strategic focus on establishing a global footprint and catering to the growing demand for cryptocurrency services worldwide.

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