Weekly SmartPills #38

COINBASE EMBRACES EUROPE: NEW LICENSE IN FRANCE

Coinbase, in a strategic move aimed at overcoming challenges with the SEC in the United States, is spreading its wings in Europe with a brand-new license in France. The exchange has received approval from the French financial regulator, the Autorité des marchés financiers (AMF) — a bold step to expand its operations in the heart of Europe. Coinbase joins the small group of Virtual Asset Service Providers (VASPs) authorized in France. This license opens the door to a wide range of services, allowing the purchase, sale, and custody of digital assets. The exchange can now offer its advanced trading platform to the French market, marking a significant step in its global expansion journey.

MiCA vs SEC: why Europe is attracting crypto exchanges

The regulatory clarity offered by the Markets in Crypto-Assets (MiCA) framework appears to be the guiding light for overseas exchanges moving toward Europe. MiCA provides a safer regulatory environment for companies operating in the crypto sector, while also ensuring greater consumer protection. Unlike the United States, where the regulatory landscape is uncertain and strict, Europe is becoming a more welcoming ground. In the U.S., exchanges — including Coinbase — are frequently under the SEC’s scrutiny. The lawsuit against Coinbase for alleged violations of federal securities laws is just one example. The exchange is now facing the SEC while simultaneously seeking regulatory clarity on another front, pushing toward Europe to diversify and strengthen its global presence.

France, an Emerging Crypto Hub in Europe

Coinbase’s choice of France as its new playing field reflects the country's openness and growing interest in emerging technologies. With massive investments in the Web3 sector, France is emerging as a key hub for crypto companies. Coinbase joins a distinguished list of major industry players based in Paris, contributing to France's rising status within the European crypto ecosystem.