According to CNBC, cryptocurrency exchange Coinbase has obtained approval from the French market regulator to obtain a regulatory license as a Virtual Asset Service Provider (VASP). The report, citing a statement, states that this VASP license will enable Coinbase to offer digital asset custody, fiat-to-crypto trading, and crypto-to-crypto trading services. Yesterday, Coinbase’s stock price rose by 3.81%, reaching a new high for the year.
To expand its presence beyond the United States, Coinbase recently allowed non-U.S. institutions to use its cryptocurrency exchange for spot trading. Additionally, Coinbase’s international division has started offering derivative trading services to non-U.S. institutional clients this year and plans to increase the variety of digital assets on its platform while also serving retail customers more comprehensively.
However, in the United States, Coinbase’s long-standing regulatory dispute with the Securities and Exchange Commission (SEC) remains unresolved. This includes the SEC’s allegations this year that Coinbase operated an unregistered exchange, which is still ongoing.
