TL;DR
- Coinbase has obtained approval from the UK’s FCA to operate as a Virtual Asset Service Provider (VASP).
- The FCA and the UK government support cryptocurrencies, recognizing their potential for economic growth and financial inclusion.
- Coinbase aims to onboard one billion people into the crypto market, focusing on security and compliance with local regulations.
Coinbase has obtained approval from the UK’s Financial Conduct Authority (FCA) to operate as a Virtual Asset Service Provider (VASP), allowing it to offer both cryptocurrency and fiat services in the country. This achievement places the exchange in a privileged position in the UK’s digital asset market, consolidating its position in one of the company’s most important international markets.
The FCA and the UK government have shown a favorable stance towards cryptocurrencies, recognizing their potential to drive economic growth and improve financial inclusion. Their support has been key to enabling Coinbase to expand its offering of products and services, ranging from solutions for retail customers to options for institutions and broader ecosystems. As crypto regulation in the UK develops, regulatory clarity will benefit both investors and companies within the sector.
Coinbase Aims to Onboard One Billion People into the Crypto Market
Coinbase has stated that this registration will allow it to advance its mission of onboarding one billion people into the crypto market. The company ensures that it maintains a strong focus on the security of its customers’ assets, while also seeking to guarantee compliance with local regulations. According to the exchange, the increase in cryptocurrency adoption will generate greater economic freedom and, as a result, will drive global growth.
The UK is promoting advancements in the integration of cryptocurrencies into traditional financial systems. The use of stablecoins, for example, is helping improve payments and is generating opportunities for both businesses and consumers. Coinbase believes that such regulations will facilitate the arrival of more investments into the country, promoting innovation and job creation, and solidifying the UK as a leader in the development of digital finance.
