Coinbase Obtains VASP Registration in France

Today we have reached a significant milestone in Coinbase’s continued international expansion journey: receiving PSAN (VASP) approval from the French regulator, the Autorité des Marchés Financiers (AMF). This registration allows Coinbase to operate in France, continuing our plans to grow across Europe. 

This VASP status will allow Coinbase to offer the following services to users in France, both retail and institutional, all in compliance with the national legal framework: 

• Custody of digital assets;

• Buying or selling digital assets in legal tender;

• The trading of digital assets against other digital assets.

According to a new survey by Toluna, 10% of French adults currently own crypto assets and 24% plan to buy, sell, and or trade cryptocurrency in the next 12 months. Demand is increasing. And why wouldn’t it? Some 60% of French adults believe that the global financial system unfairly favours powerful interests.*

“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,” said Daniel Seifert, Vice President and Regional Managing Director, EMEA at Coinbase, said:

France is an important market for Coinbase, and this move represents another chapter of our Go Deep, Go Broad international expansion strategy. We are dedicated to partnering with high-bar regulators across jurisdictions to help update the financial system, and France is no different. Coinbase recently showed its commitment to the European markets by choosing Ireland as its MiCA entity location. The regulatory clarity MiCA provides to the industry is hugely welcome, and shows that the region is recognising the potential that emerging technology can provide. 

France's reputation as a country that innovates and attracts technological advancements is well-deserved. With its thriving tech and web3 startup ecosystem, supportive government initiatives, world-class educational institutions, advanced technological infrastructure, and vibrant cultural heritage, France has positioned itself as a global magnet for innovation. 

The recent adoption of MiCA by European Union policymakers also represents a pivotal moment for cryptocurrencies in the region. The regulatory clarity MiCA provides to the industry is hugely welcome, and shows that the region is recognising the potential that emerging technology can provide.

We are proud to be bringing a more fair, accessible, efficient, and transparent financial system enabled by crypto to France, and look forward to replicating our efforts across the globe in this incredibly important jurisdiction. 

**Finance perception survey September 2023, conducted by Toluna on behalf of Coinbase.