Coinbase has achieved a milestone by becoming the first international and largest cryptocurrency exchange to register as a limited dealer. Canadian Securities Manager (CSA).
Following Coinbase’s official launch in August 2023, this achievement highlights Coinbase’s commitment to building a strong presence in the Canadian market, which it has identified as a key market for expansion.
The journey toward registration began in March 2023 when Coinbase signed an enhanced pre-registration business, demonstrating its commitment to regulatory compliance and operational excellence.
During the registration process, Coinbase worked closely with Canadian regulators to develop a policy framework aimed at setting global benchmarks for the industry. The exchange has also demonstrated its commitment to successfully navigating the evolving digital asset landscape by working with Canadian banks, investment advisors and pension funds.
Lucas Matheson, CEO of Coinbase Canada, emphasized the significance of this achievement, saying, “This is an important milestone in Coinbase’s journey in Canada.” He expressed the company’s passion to work with stakeholders across Canada to accelerate the adoption of digital assets, promote economic empowerment and reshape the financial system.
Coinbase’s collaboration with stakeholders aims to drive digital asset adoption, foster economic empowerment, and transform the financial system. The company’s position on regulating centralized cryptocurrency intermediaries is consistent with public opinion in Canada.
A survey conducted by Coinbase in partnership with Angus Reid found that 72% of Canadians consider regulation of cryptocurrency exchanges important, and 29% said they would be more likely to invest in cryptocurrencies if regulations were strengthened. Curiosity, investment diversification, and profit potential were the main motivations among cryptocurrency investors.
Coinbase’s commitment to the Canadian market is driven by the significant growth potential of the Canadian cryptocurrency sector. Vietnam ranks third globally in cryptocurrency awareness, supported by a strong technology ecosystem that can lead the cryptocurrency economy.
Faryar Shirzad, Coinbase’s chief policy officer, praised Canadian securities regulators’ efforts to bring transparency to the industry. “Regulation is critical to the success of the cryptocurrency industry and essential to building trust,” Shirzad emphasized.
coinbase We have a number of plans to expand our presence in Canada, including an official launch with Interac Payment Rails in August 2023, a visit to Toronto by CEO Brian Armstrong in November 2023, hiring approximately 200 local employees, and investing in the Canadian technology ecosystem through Coinbase Ventures. Performed. .
These efforts are part of Coinbase’s broader strategy to work with regulators around the world by obtaining licenses in various countries. The company is committed to fostering the growth of Canada’s cryptocurrency ecosystem and working closely with stakeholders to drive digital asset adoption, economic empowerment, and reshape the global financial system.
Featured Image: Unsplash
Please see disclaimer