The American cryptocurrency exchange Coinbase has announced the successful completion of the process to obtain a license for providing services related to virtual assets (VASP) in France. This will enable Coinbase to expand its crypto services in the French market.
After obtaining the VASP license, Coinbase will have the ability to offer a wide range of services, including the storage of digital assets, the exchange and sale of these assets for fiat currencies and other cryptocurrencies, as well as the management of a platform for virtual asset trading. This move will allow the exchange to expand its presence in the market and provide broader access to cryptocurrency opportunities in France.
Lately, Coinbase has been actively expanding its operations in the global market, as the regulation of the cryptocurrency sphere in the domestic market remains unclear and less favorable. Meanwhile, France aims to become a leader in blockchain, artificial intelligence, and cloud computing by 2030, and to achieve this goal, the state plans to invest approximately $36.5 billion.
Additionally, next year in the European Union, a new set of rules called MiCA will come into effect, which could significantly simplify the access for cryptocurrency companies to the markets of the region. Currently, about 10% of adult French citizens already own cryptocurrencies, and another 24%, according to Toluna data, plan to enter this sphere.
It is important to note that Coinbase recently launched spot cryptocurrency trading on its international trading platform, Coinbase International Exchange.
