Coinbase Obtains Regulatory License from French VASP, Stock Price Soars to New Annual High

Coinbase Obtains Regulatory License from French VASP, Stock Price Soars to New Annual High

Coinbase Obtains Regulatory License from French VASP, Stock Price Soars to New Annual High

According to CNBC, cryptocurrency exchange Coinbase has obtained approval from the French market regulator, acquiring a regulatory license as a Virtual Asset Service Provider (VASP). CNBC cited a statement in its report on Thursday, stating that this VASP license will allow Coinbase to offer digital asset custody, fiat-to-crypto, and crypto-to-crypto trading services. Yesterday, Coinbase’s stock price rose by 3.81%, reaching a new high for the year. To take a new step in its development outside of the United States, earlier this month, Coinbase allowed non-US institutions to use its cryptocurrency exchange for spot trading. In addition, Coinbase’s international division has also started offering derivative trading services to non-US institutional clients this year, and plans to increase the variety of digital assets on its platform while expanding its services to retail customers. However, in the United States, the long-standing regulatory dispute between Coinbase and the Securities and Exchange Commission (SEC) remains unresolved, including the ongoing SEC lawsuit accusing Coinbase of operating an unregistered exchange this year.