Coinbase Reaches 'Crucial Milestone' in Canada With Restricted Dealer Registration

Cryptocurrency exchange Coinbase has announced that it has reached “a crucial milestone” in Canada by obtaining registration as a restricted dealer in the country. “Ranked as Coinbase’s third-most crypto-aware nation globally, Canada boasts an enthusiastic tech ecosystem that has the potential to be a leader in the global cryptoeconomy,” Coinbase noted.

‘Crucial Milestone in Coinbase’s Journey in Canada’

Crypto exchange Coinbase (Nasdaq: COIN) announced last week that it has obtained registration as a restricted dealer in Canada. “Today we’re excited to share a crucial milestone in Coinbase’s journey in Canada,” the crypto exchange wrote, elaborating:

Coinbase has officially been registered as a Restricted Dealer by the Canadian Securities Administrators (CSA). This makes Coinbase the largest and first international cryptocurrency exchange registered in Canada.

“This milestone, following our formal launch in August 2023, reinforces our commitment to Canada as a Go Deep market,” Coinbase added. The crypto firm outlined the specific requirements it must meet as a restricted dealer in Canada here.
Coinbase also shared the results of a new survey it conducted in partnership with Angus Reid, which found that “72% of Canadians think that the regulation of cryptocurrency exchanges is important,” the crypto firm stated. “Nearly a third of Canadians (29%) said they would be more inclined to buy cryptocurrency if there was more regulation in the industry.”

Moreover, among those who did purchase cryptocurrencies, “nearly half (49%) said they were driven by their curiosity in digital assets, while 39% said they wanted to diversify their investments and just over half (53%) said they were interested in investing to make money,” the exchange detailed.
Coinbase explained that its Canadian commitment “stems from a significant opportunity for the cryptocurrency market to grow and thrive in Canada.” The crypto platform emphasized: “Ranked as Coinbase’s third-most crypto-aware nation globally, Canada boasts an enthusiastic tech ecosystem that has the potential to be a leader in the global cryptoeconomy.” Coinbase noted:

Canada is Coinbase’s largest tech hub outside the US.

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