Coinbase is now registered as a Virtual Assets Service Provider in France, while Circle has obtained a conditional registration in the country.
French regulatory authorities are granting approvals to foreign cryptocurrency firms as 2023 draws to a close, awarding licenses for crypto exchange Coinbase and stablecoin issuer Circle on Dec. 21.
Coinbase has reportedly obtained the Virtual Assets Service Provider (VASP) authorization from France’s financial regulator, the Autorité des Marchés Financiers (AMF). Having a VASP registration ensures that a company is compliant with European Union and international regulations.
With the license, Coinbase can custody digital assets, and offer and facilitate crypto trading in the country. In addition, the exchange recently announced crypto trading services for institutional foreign investors via its international arm, enabling clients outside the U.S. to trade Bitcoin (BTC) and Ether (ETH) against USD Coin (USDC).
