Coinbase accepts VASP registration in France

Coinbase has received a Virtual Asset Service Provider (VASP) license from French regulator Autorité des Marches Financieux (AMF). The exchange is licensed to provide crypto protection and trading services to retail and institutional investors.

Coinbase has received regulatory approval to offer crypto exchange services and products in France, the company announced on Thursday. As previously reported by CoinJournal, a stable coin-issuing club has acquired a regulatory node in the country.

Coinbase has received a license to offer crypto in France

The French regulator of the US-based crypto exchange, the Autorite des Marches Financiers (AMF), said in an announcement that it has granted registration to a Virtual Asset Service Provider (VASP). The license is a “major milestone” in the exchange's efforts to expand its services across Europe.

The VASP license allows Coinbase to offer protection and trading of digital assets to retail and institutional customers. These services are available in compliance with the country's financial and market regulations as well as EU laws.

Daniel Seifert, Vice President and Regional Managing Director of EMEA at Coinbase, said:

“We are focused on bringing the benefits of crypto to the world. Achieving VASP status in France will allow us to continue to grow as globally as possible by ensuring that the next 1 billion people onboard crypto are secure and prioritize compliance. We are happy to contribute.

Coinbase is looking at international expansion

Coinbase's regulatory license in France A recent survey by market research firm Toluna revealed that 10% of the French adult population currently owns cryptocurrency. According to the survey, nearly a quarter of French adults, or 24%, plan to buy, sell and trade crypto in the next 12 months.

The outlook combined with the regulatory clarity provided by the EU MCA to make not only France but the rest of the region an important market for Coinbase.

While it continues to seek international expansion for licenses and registration applications in Tier 1 regulatory jurisdictions, Coinbase is focused on fighting for transparency in the United States.

In a last-ditch effort, the exchange recently filed an appeal against the US Securities and Exchange Commission's (SEC) decision to reject its crypto rulemaking request. The petition calls for new rules for crypto.

The SEC's denial of the filing comes months after Coinbase filed a lawsuit alleging that it offered unregistered securities.