Crypto Exchange Coinbase Becomes a Virtual Asset Services Provider in France

TL;DR

• Coinbase has received registration as a Virtual Asset Services Provider in France.

• The crypto exchange said it wants to be regulated in countries with clear policies for the crypto sector.

Coinbase Receives a VASP License in France

Coinbase, one of the leading cryptocurrency exchanges in the world, announced on Thursday that it has received registration as a Virtual Asset Services Provider (VASP) in France.

This latest development means that Coinbase can now offer a full suite of retail, institutional, and ecosystem products and services in the country. It also occurred on the same day that stablecoin issuer Circle said it was granted conditional registration by the regulator, with the French government making moves to attract crypto businesses to the country. 

Coinbase, the leading crypto exchange in the United States, revealed that the registration allows it to offer custody of digital assets, buying and selling of digital assets for fiat currency and trading of digital assets.

Daniel Seifert, Vice President and Regional Managing Director, EMEA at Coinbase, commented that,

“We’re focused on bringing the benefits of crypto to the world. Achieving VASP status in France allows us to continue to grow globally in the best possible way, onboarding the next 1 billion people into crypto while ensuring consumer’s assets are secure and that compliance is prioritised. France has a thriving web3 ecosystem and we are excited at the prospect of contributing to it.” 

France is looking to attract crypto companies to the countries by rolling out clear regulations for digoya assets. 

Coinbase, on the other hand, has been working hard to expand its presence in other parts of the world. The cryptocurrency exchange continues to be in a legal battle with the US SEC over regulatory clarity in the United States. 

Coinbase is requesting clear rules for the crypto sector from the SEC, something the regulator called unwarranted. The cryptocurrency exchange has made its desire known to become regulated in countries with clear policies for the crypto industry. It has already secured licenses in some parts of the EU, including an e-money license in Ireland and registration in Spain.