A recognized exchange called Coinbase recently acquired a key license that will allow it to enter the Canadian market. CNN states that this move is a strategic response to increased regulations in the United States, which is its home country.
Canada’s Securities Administrators (CSA) gave Coinbase a license that lets it perform business in Ontario as a limited trader. This is precisely what the rules are for Canada’s financial business.
Coinbase’s Milestone in Canada
Coinbase has become the most significant foreign bitcoin exchange to get registered in Canada. This is an important leap forward for the company. This puts the Cryptocurrency Exchange in an ideal position to help millions of Canadians enter the digital economy, notes Matheson, who is an expert in the field.
In the past, the Cryptocurrency exchange attempted to grow abroad. At the end of last year, the French stock market regulator (AMF) provided it permission to conduct business in French market. This license lets the Cryptocurrency Exchange offer virtual asset service provider (VASP) services in French market.
Coinbase has also been working intensely to get legal in places besides North America and Europe. The Bermuda Monetary Authority (BMA) let it conduct business as a managed company in the British Overseas Territory in April 2023.
The government’s approvals show that the Exchange is diligent to follow the rules of global finance as it expands into new markets.
