Coinbase Scores Monumental Canadian Registration, Spearheading Crypto Adoption

Coinbase, the leading cryptocurrency exchange, has become the first to receive a Registered Dealer listing from the Canadian Securities Administrators (CSA). This milestone signifies the efforts of Coinbase to establish a comprehensive policy framework and collaborate with Canadian regulators, banks, and financial institutions. Recognizing the importance of regulations for fostering trust and innovation in the crypto sector, Coinbase will continue to promote the adoption of digital assets and drive economic growth while ensuring regulatory compliance.

Coinbase Obtains Historic Registration in Canada, Paving Way for Cryptocurrency Adoption

Toronto, Canada - Coinbase, the preeminent global cryptocurrency exchange, has achieved a significant milestone by securing registration as a Designated Dealer from the Canadian Securities Administrators (CSA), marking a transformative moment for the cryptocurrency industry in Canada.

Coinbase's journey to this momentous achievement commenced in the first half of 2022, when it entered into an Enhanced Pre-Registration Undertaking, demonstrating its unwavering commitment to regulatory compliance and operational excellence. Over the ensuing months, Coinbase collaborated closely with Canadian regulators to develop a robust policy framework that aligns with international standards. This comprehensive engagement extended to consultations with Canadian banks, investment advisors, and pension funds.

"Coinbase Canada is steadfast in our mission to foster the wide-scale adoption of digital assets, catalyze economic growth, and reimagine the financial landscape," affirmed Lucas Matheson, CEO of Coinbase Canada. "We firmly believe that data-driven, risk-based regulation of centralized crypto intermediaries is paramount to instilling trust and encouraging innovation within the cryptocurrency ecosystem."

Coinbase's unwavering commitment to regulation is supported by a recent study commissioned by the company, revealing that 72% of Canadians recognize the imperative for robust regulation of cryptocurrency exchanges. Furthermore, the study indicated that approximately 49% of cryptocurrency investors were primarily motivated by the allure of digital assets, while 39% sought to diversify their investment portfolios. Notably, 53% of respondents expressed a preference for investing in cryptocurrency for financial gain.

Canada has emerged as a burgeoning hub for the cryptocurrency industry, ranking as the third most crypto-knowledgeable nation globally. Faryar Shirzad, Coinbase's Chief Policy Officer, lauded Canada's progressive regulatory approach, stating, "Canada's embrace of a transparent regulatory framework is commendable and precisely what the industry needs at this juncture."

Coinbase's strategic engagement with Canada began with its recent entry into the Canadian market. In late 2023, the company's CEO visited Toronto to connect with team members and expand its overall footprint in Canada, including investing in the country's technology and builder ecosystem.

Coinbase's global presence continues to expand rapidly, with registrations and licenses obtained in France, Spain, Singapore, Italy, Ireland, and the Netherlands. This global reach underscores Coinbase's commitment to providing a seamless and secure platform for customers worldwide to access and engage with the transformative power of cryptocurrency.

As a testament to its unwavering commitment to financial innovation, Coinbase offers a comprehensive suite of services, including trading, staking, custody, spending, and free international transfers, all seamlessly integrated into a user-friendly platform. Coinbase's unwavering commitment to compliance and innovation positions it as a driving force in the evolution of the global financial landscape.