Coinbase Obtains PSAN from AMF:
Coinbase has been registered as a ‘Virtual Asset Service Provider’ (VASP) in France, allowing the company to offer a full range of products and services to French clients.
Coinbase’s Expansion in France
Recently, Coinbase, one of the largest exchanges in the cryptocurrency ecosystem, obtained the VASP registration, known as the ‘PSAN’ (Digital Asset Service Provider), from the Autorité des Marchés Financiers (AMF) in France.
This official status enables Coinbase to offer a comprehensive range of services in France, including custody of digital assets, buying and selling cryptocurrencies for fiat currencies, as well as trading.
“This VASP status will allow Coinbase to offer the following services to users in France, both individual and institutional, in compliance with the national legal framework” – Coinbase stated in a press release.
– Coinbase
In its statement, Coinbase highlights the growing interest in cryptocurrencies in France, noting that approximately 10% of French people currently own cryptocurrencies (mainly Bitcoin), while 24% are considering buying them. By positioning itself today, Coinbase seems to have a growing interest in the long term.
France, the Preferred Destination for Crypto Companies?
France is positioning itself as an attractive hub for cryptocurrency companies, aiming to offer a clearer and more stable regulatory environment than the one currently in place in the United States. This initiative is part of the broader framework of the European Union’s MiCA (Markets in Crypto Assets) legislation, which will begin to be implemented across the 27-member bloc next year.
In addition to its expansion in France, Coinbase also holds licenses in other EU countries, including an electronic money license in Ireland and registration in Spain.
