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France's financial regulatory body, the Autorité des Marchés Financiers (AMF), has granted Coinbase a Virtual Asset Services Provider (VASP) license. The license will enable Coinbase to offer digital asset-related services to both retail and institutional users in France.
According to a post on the company's website dated December 12, 2023, Coinbase stated that the license would facilitate "custody of digital assets; buying and selling of digital assets in legal tender; the trading of digital assets against other digital assets". The post also emphasized France as "an important market for Coinbase" and lauded the nation as "a global magnet for innovation."
Daniel Seifert, Vice President and Regional Managing Director, EMEA, at Coinbase, said in a statement, "We’re focused on bringing the benefits of crypto to the world. Achieving VASP status in France allows us to continue to grow globally in the best possible way, onboarding the next 1 billion people into crypto while ensuring consumer’s assets are secure and that compliance is prioritised. France has a thriving web3 ecosystem and we are excited at the prospect of contributing to it."
