After announcing its launch in Canada about eight months ago, Coinbase also announced on Thursday that it had secured limited dealer registrations.
Coinbase said this makes it the first international cryptocurrency exchange registered in the country and the largest exchange operating there. The expansion into Canada fits into Coinbase’s broader plans to expand its presence in markets outside the United States. In the United States, we have occasionally suffered from investigations by the Securities and Exchange Commission (SEC).
In a statement, Coinbase expressed optimism about securing limited dealer licenses. “We have demonstrated our commitment to working with Canadian banks, investment advisors and pension funds to help them successfully navigate the evolving digital asset space,” the company said in a blog post.
The US-based cryptocurrency trading platform hired a Canadian regional director about a year ago.
Coinbase also said that tighter regulation would make nearly a third of Canadians more likely to purchase cryptocurrencies, citing research it helped conduct. As of late last year, WonderFi controlled nearly half of all regulated exchanges operating in Canada.
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About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal, writing about Disney, Netflix, Warner Bros. and the creator economy, focusing primarily on technological disruption across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a variety of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.