Release | April 4, 2024
Image: Coinbase Blog, a major hub for cryptocurrency legislation
Coinbase’s strategic expansion into the Canadian cryptocurrency market
“Today we are excited to share an important milestone in Coinbase’s journey in Canada. Coinbase has officially been registered as a restricted dealer by the Canadian Securities Administrators (CSA). This makes Coinbase the largest and first registered in Canada. It has become an international cryptocurrency exchange.”
On April 3, 2024, Coinbase posted on its blog, ‘Officially registered as a restricted dealer with the Canadian Securities Administrators (CSA); [making them] It is the largest and first international currency exchange registered in Canada.“ Check out the release here.
see: Tax tips for Canadian cryptocurrency users in 2024
- Here’s why Coinbase is registered as a restricted dealer by the CSA: After working hard for almost 3 yearsThis is especially true at the Ontario Securities Commission. This achievement follows new Canadian guidelines introduced last year for cryptocurrency exchanges that require registration and impose investment restrictions on certain investors.
- Canada presents a significant market opportunity for Coinbase, ranked as the third country in the world to recognize cryptocurrencies. Canada has a highly educated and tech-savvy population, making it ideal for cryptocurrency adoption. Coinbase’s registration makes it Canada’s largest and first international cryptocurrency exchange, making the digital economy more accessible to millions.
- all inspection Here’s what Coinbase did in partnership with Angus Reid: 72% of Canadians consider Cryptocurrency exchange regulation is important. As well as, Nearly one-third (29%) of Canadians would be more inclined to purchase cryptocurrencies if the industry became more regulated..
- Coinbase’s commitment to Canada extends beyond regulatory compliance. Partnering with Peoples Trust to launch the Interac payment rail enables seamless transactions for Canadian users. Moreover, Coinbase’s CEO Brian Armstrong’s involvement in the local tech community and establishment of a Canadian tech hub with approximately 200 employees signals a deep investment in Canada’s digital asset ecosystem.
Lucas Matheson, Canada Country Director, Coinbase:
“As part of our international growth, we have made it a priority to work closely with regulators in key countries. Last year we obtained registrations in France, Spain, Singapore, Italy, Ireland and the Netherlands. Canada added this “Being listed is a very important moment for Coinbase and one we are very proud of.”
see: OSC: Insights from the 2023 Canadian Cryptocurrency Survey
eyesight
Registration with the Canadian Securities Administrators (CSA) aligns with Coinbase’s “Go Deep” growth strategy and aligns with the broader trend of cryptocurrency platforms seeking legitimacy and trust through regulatory approval as they drive mainstream adoption of digital assets globally. do.
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