Coinbase, the world’s biggest cryptocurrency exchange, received a listing as a Registered Dealer by the Canadian Securities Administrators (CSA), an absolute first for Canada.
The preparations for this enormous achievement began in the first half of last year. The signing of an Enhanced Pre-Registration Undertaking spoke of its commitment to adherence to regulations and functional competence.
Throughout this time, Coinbase worked with Canadian regulators to establish a proper policy structure that would act as an international standard. The company also worked with Canadian banks, investment consultants, and pension funds.
According to Lucas Matheson, the CEO of Coinbase Canada, they will continue promoting the acceptance of digital assets, encouraging economic strengthening, and restructuring the financial mechanism.
In Coinbase’s opinion, regulations about centralized crypto middle players are necessary for developing faith and encouraging inventiveness in the cryptocurrency sphere. According to a study conducted by the company, 72% of Canadians view that regulations regarding cryptocurrency exchanges are a must.
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Of those who bought crypto, almost 49% spoke of being attracted to digital assets, whereas 39% were required to divert their investments to multiple accounts. 53% were inclined towards making investments for money.
Canada is slowly becoming a destination point for cryptocurrency and is known to be the nation’s third in line regarding its understanding of crypto.
In the words of Coinbase’s Chief Policy Officer, Faryar Shirzad, Canada has a highly transparent regulatory policy, which is the need of the hour. He gives full kudos to the nation.
Coinbase’s connection with Canada began when it recently entered Canada. Towards the end of 2023, its CEO went to Toronto to interact with the team members, and the company increased its overall footprint. It made investments in technology and the builder ecosystem in Canada.
The company has received certifications and listings in France, Spain, Singapore, Italy, Ireland, and the Netherlands.
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Coinbase is upgrading its financial mechanism by offering a platform that simplifies connecting with crypto assets, such as trading, staking, controlling, spending, and free international transfers.
