Coinbase registered with French financial authorities – France is working to attract crypto asset companies | CoinDesk JAPAN

On the 21st, Coinbase, a major crypto asset (virtual currency) trading company, registered as a Virtual Asset Services Provider with France’s Financial Markets Authority (AMF), and in the same country, Coinbase has registered as a Virtual Asset Services Provider with the French Financial Market Authority (AMF). The company announced that it now offers a complete set of products and services for the ecosystem.

France is aiming to attract crypto-asset businesses, and on the same day, stablecoin issuer Circle also announced that it had been granted conditional registration by regulators.

France works to attract crypto-asset companies

According to CoinGecko data, Coinbase is the third-largest cryptocurrency exchange by trading volume, surpassed only by Binance, also registered in France, and Bybit. Coinbase explained that this registration will enable the custody of digital assets, the buying and selling of digital assets with fiat currency, and the trading of digital assets.

France is working hard to attract crypto-asset companies seeking an environment with clearer regulations than the United States currently has. The European Union (EU) recently passed a far-reaching Crypto Asset Market Regulation (MiCA) law, which will come into force next year.

In the United States, Coinbase is requesting rules specific to the crypto asset sector from the US Securities and Exchange Commission (SEC), which the SEC recently called “unreasonable.” Meanwhile, Coinbase said it wants to be regulated in countries that have clear policies for the industry.

Coinbase registered in multiple EU member states

Coinbase already has licenses elsewhere in the EU, including an e-money license in Ireland and registration in Spain. In October, it announced plans to make Ireland the hub of the EU. Bermuda and Singapore also received operating licenses this year.

Coinbase stock, which is rising on the Nasdaq, has already risen 30% this month. On the day, the stock rose another 1.4% to $164.5 (approximately 23,000 yen, converted at 140 yen to the dollar).

｜Translation and editing: Rinan Hayashi
｜Image: Brian Armstrong CEO (Coinbase)
｜Original text: Coinbase Approved as Virtual Asset Services Provider in France