LATEST: Coinbase Gains Canadian License, Boosts Overseas Expansion Plans

Coinbase, a leading cryptocurrency exchange, has secured a pivotal registration license in Canada, signaling a strategic expansion beyond its U.S. base amid regulatory challenges. By obtaining the status of a restricted dealer from the Canadian Securities Administrators (CSA), Coinbase can now operate legally across Canada, adhering to stringent crypto asset regulations. This move comes as part of its broader initiative to penetrate global markets, with Canada’s tech-savvy and educated populace serving as an ideal launchpad. The registration positions Coinbase as the first international crypto exchange with such credentials in Canada, aligning with its mission to facilitate digital economy access for millions.

This development follows Canada’s tightened crypto guidelines, which prompted some exchanges to exit the market. Unlike Binance, Coinbase pursued compliance, demonstrating commitment to regulatory standards. With nearly 200 employees in its Canadian tech hub and endorsements from local tech leaders, Coinbase’s establishment in Canada marks a significant milestone in its “Go Broad, Go Deep” strategy, emphasizing regulatory compliance as a cornerstone for global expansion.

CNBC

75.8K Reads