Crypto News – Coinbase, a cryptocurrency exchange, said that it has been registered as a Virtual Asset Services Provider in France. This registration enables Coinbase to provide a comprehensive range of retail, institutional, and ecosystem products and services in France.
France Approves Coinbase: Exchange Approved as Virtual Asset Services Provider
The announcement of the Financial Markets Authority‘s (AMF) registration coincided with stablecoin issuer Circle’s announcement that the regulator had given conditional registration as France attempted to draw in cryptocurrency enterprises. Only Bybit and Binance, which are likewise based in the nation, are bigger cryptocurrency exchanges by trading volume than Coinbase, which is ranked third by CoinGecko. According to Coinbase, registration enables them to provide custody of digital assets, the buying and selling of digital assets for fiat money, and the trading of digital assets.
France Aims to Adopt a More Transparent Crypto Policy Compared to the US
France has shown a strong desire to draw in cryptocurrency businesses seeking more transparent regulations than those found in the United States. The comprehensive Markets in Crypto Assets (MiCA) regulation was just passed by the European Union and will go into effect throughout the 27 member states of the EU early in 2024.
The Securities and Exchange Commission (SEC) has referred to Coinbase’s requests for specific regulations for the cryptocurrency industry in the United States as “unwarranted.” The exchange has stated that it wishes to be regulated in nations that have explicit laws governing the sector in the interim.
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