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On December 21, according to CNBC, the cryptocurrency exchange platform Coinbase has successfully registered with the regulatory authorities in France. A company spokesperson confirmed this news on Thursday. This paves the way for the company to expand its services in another key European market. The French Financial Markets Authority (AMF) has granted approval to Coinbase as a Virtual Asset Service Provider (VASP), effectively giving the green light for the company to operate cryptocurrency services in France. VASP registration will allow Coinbase to offer custody of digital assets, conduct fiat-to-crypto and crypto-to-fiat transactions, facilitate transactions between digital assets, and operate a platform for digital asset trading. In a statement released on Tuesday, the company mentioned that regulatory authorities in European countries, including France, have been working to keep up with the development of emerging technologies such as blockchain and cryptocurrencies. They are also striving to strike a balance between enhancing the potential of payment systems and transactions while ensuring consumer protection. The European Union has been working on introducing the Markets in Crypto-Assets (MiCA) regulation in its market, which aims to create a coordinated framework for regulated operations of crypto companies within the group of countries. According to MiCA, crypto companies will no longer need to obtain registration in each EU market but can use a VASP license from one country and "passport" their services to other countries within the group. |
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Post time 25-12-2023 20:34:10