Coinbase Gets a Virtual Asset Services Provider License in France

Coinbase has announced that it has received registration as a Virtual Asset Services Provider in France.

This registration, granted by the Financial Markets Authority, enables Coinbase to offer a range of retail, institutional, and ecosystem products and services within the country.

This news came on the same day that Circle, a stablecoin issuer, also received conditional registration from the regulator as France seeks to attract more crypto businesses.

As part of the registration, Coinbase is allowed to offer custody services for digital assets, as well as buying, selling, and trading of digital assets for fiat currency.

France has been actively trying to attract crypto businesses by providing a more clear regulatory environment compared to the US which has been slower in implementing regulations for the industry.

With the recent approval of the wide-ranging Markets in Crypto Assets legislation by the European Union, France is hoping to become a more desirable location for the crypto industry.

Coinbase has also been trying to become regulated in countries that have clearly defined policies for the crypto industry while they continue to wait for the U.S. Securities and Exchange Commission to provide similar regulations.