Coinbase, the renowned U.S.-based cryptocurrency exchange, has marked a significant achievement in its Canadian expansion journey by attaining “restricted dealer” status. This pivotal development positions Coinbase as the largest registered crypto exchange in Canada, signalling a substantial stride forward in its efforts to establish a robust presence in the country’s burgeoning digital asset market.
Pioneering Expansion: Coinbase Makes Strides in Canadian Crypto Landscape
The announcement comes as Coinbase successfully navigates the regulatory landscape in Canada, securing the coveted “restricted dealer” registration from the Ontario Securities Commission (OSC). This milestone underscores Coinbase’s commitment to compliance and regulatory adherence, as it aligns with Canadian securities policies established last year.
The attainment of this registration paves the way for Coinbase to operate under government-approved frameworks, a feat that has encountered challenges within its home jurisdiction in the United States.
Lucas Matheson, CEO of Coinbase Canada, on the Implications of Registration
Expressing his views on this significant achievement, Lucas Matheson, CEO of Coinbase Canada, emphasized the milestone’s importance in Coinbase’s Canadian journey. He highlighted Coinbase’s dedication to collaborating with Canadian partners to drive the adoption of digital assets, foster economic empowerment, and reshape the financial landscape. Matheson’s remarks underscore Coinbase’s strategic vision to leverage its newfound status to catalyze positive change within the Canadian crypto ecosystem.
Coinbase Forward Trajectory: Navigating Regulatory Pathways
While the “restricted dealer” registration sets Coinbase on a trajectory of government-approved operations in Canada, the exchange remains proactive in its regulatory endeavours. Coinbase intends to leverage its current status to pursue further regulatory clearances, including registration as an investment dealer and seeking membership with the Canadian Investment Regulatory Organization (CIRO).
Additionally, Coinbase aims to secure registration as an alternative trading system (ATS), further solidifying its position within the Canadian financial landscape.
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