oinbase">Coinbase, one of the world’s leading cryptocurrency exchanges, has achieved a significant milestone in its global expansion efforts by securing a dealer license in Canada. According to reports from CNBC, the license allows the crypto platform to increase its presence outside the United States, where it faces a regulatory crackdown in its home market. The registration in Ontario as a limited dealer under the Canadian Securities Administrators (CSA), the umbrella organization of Canada’s provincial and territorial securities regulators, has been a long-awaited achievement for oinbase">Coinbase.
Commenting on the significance of this registration, Lucas Matheson, oinbase">Coinbase’s country director for Canada, stated that the platform has been working on obtaining the license for almost three years, with the last 12 months spent specifically collaborating with the Ontario Securities Commission. The registration in Canada positions oinbase">Coinbase as the first international and most significant cryptocurrency exchange registered in the country. Matheson believes this puts the platform in an excellent position to help millions of Canadians access the digital economy and participate in the rapidly growing cryptocurrency market.
oinbase">Coinbase’s global expansion efforts have been gaining momentum in recent months. Late last year, the company received a license to operate in France after the French stock market regulator (AMF) issued a permit, allowing oinbase">Coinbase to provide virtual asset service provider (VASP) services in the country. Additionally, in April 2023, oinbase">Coinbase received approval from the Bermuda Monetary Authority (BMA) to operate as a regulated entity in the British Island Territory. As regulatory scrutiny intensifies in the United States, oinbase">Coinbase’s strategic move to obtain licenses in various jurisdictions worldwide could prove instrumental in its long-term growth and success.
