Coinbase obtains approval for digital asset operations in France: CNBC

Coinbase obtains approval for digital asset operations in France: CNBC
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Crypto exchange Coinbase has obtained registration with France’s markets regulator, securing a virtual asset service provider approval, CNBC reported.

The VASP registration will let the company offer custody of digital assets, buying or selling digital assets in legal tender and trading of digital assets against other digital assets, CNBC said on Thursday, citing a statement.

Earlier this month, Coinbase’s plan to grow outside of the U.S. took another step forward by allowing non-U.S. institutions to use its cryptocurrency exchange for spot trading. The company’s international arm, which began offering derivatives trading to non-U.S. institutional clients earlier this year, said it also plans to both begin servicing retail customers more comprehensively while adding additional digital assets to the platform. 

Coinbase dispute with SEC

In the U.S., Coinbase has been in a lengthy dispute with the Securities and Exchange Commission that includes an enforcement action for allegedly operating as an unregistered exchange. CEO Brian Armstrong has been vocal in his call for clear rules so that innovation in the country would not be stifled and possibly pushed offshore. 

Also on Thursday, stablecoin issuer Circle said it received regulatory licensure in France.

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About Author

MK Manoylov has been a reporter for The Block since 2020 — joining just before bitcoin surpassed $20,000 for the first time. Since then, MK has written nearly 1,000 articles for the publication, covering any and all crypto news but with a penchant toward NFT, metaverse, web3 gaming, funding, crime, hack and crypto ecosystem stories. MK holds a graduate degree from New York University’s Science, Health and Environmental Reporting Program (SHERP) and has also covered health topics for WebMD and Insider. You can follow MK on X @MManoylov and on LinkedIn.

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