Coinbase Registers VASP in France to Expand Crypto Services

Coinbase Registers VASP in France to Expand Crypto Services


  • Coinbase has obtained clearance as a Virtual Asset Service Provider (VASP) in France, allowing them to expand their cryptocurrency services while adhering to regulatory requirements
  • A recent Toluna study has shown a growing desire among individuals to engage in cryptocurrency activities, with 24% of respondents indicating their intention to do so within the following year
  •  France's regulatory clarity and technological innovation position it as a crucial market for Coinbase's global expansion

Coinbase, a prominent cryptocurrency exchange, has reached a noteworthy achievement in its worldwide growth endeavors by securing VASP (Virtual Asset Service Provider) accreditation in France.
With clearance from the Autorité des Marchés Financiers (AMF), Coinbase is now authorized to operate as a 'PSAN—Prestataire de Services sur Actifs Numériques' by French legal requirements.

This development signifies a strategic maneuver for Coinbase as it seeks to expand globally, enabling the platform to provide its whole range of retail, institutional, and ecosystem goods and services to consumers in France.
The VASP designation authorizes Coinbase to partake in a range of cryptocurrency-related endeavors within the confines of the law, such as safeguarding digital assets, purchasing or selling digital assets using legal currency, and exchanging digital assets for other digital assets.

A recent Toluna study has shown an increasing fascination with cryptocurrency among people in France, with 10% currently possessing crypto assets and 24% indicating their plans to buy, sell, or trade cryptocurrency within the following year. The report further emphasizes a prevalent conviction (60%) that the global financial system unjustly favors influential entities.

France plays a crucial role in Coinbase's strategic plan for expanding its presence globally. Coinbase's decision to register with VASP in France aligns with its previous selection of Ireland as its MiCA entity location, demonstrating its commitment to adhering to regulations and collaborating with stringent

Coinbase's entry into the market complements France's emergence as a global hub for global innovation, which aligns with the nation's reputation for embracing technological advancement. The recent implementation of the Markets in Crypto Assets (MiCA) laws by European Union authorities strengthens regulatory transparency for the cryptocurrency business in the area, creating a favorable atmosphere for Coinbase's development.

Tags : coinbase  Crypto Exchange  Crypto market  cryptocurrency  France  VASP

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