Coinbase, the American cryptocurrency exchange, has expanded its global presence by obtaining restricted dealer licenses in Canada. The company has now been registered as a restricted dealer in Ontario under the Canadian Securities Administrators (CSA), according to a report by CNBC on April 4th.
The CSA’s national registration data reveals that there are two Coinbase-related entities registered in Canada. Coinbase Incorporated is registered as a restricted dealer, while Coinbase Canada is registered as an international dealer.
Restricted dealer registration, as defined by the CSA, is a specialized form of registration for firms that do not fit into any other category. The requirements for firms with this status are established by regulators on an individual basis.
However, international dealers are not permitted to trade with Canadian customers in equity or debt securities of Canadian issuers, except for government issuers, according to legal intelligence source JD Supra.
The new license has officially established Coinbase as a legally operating cryptocurrency firm in Canada, as reported by CNBC. Lucas Matheson, Coinbase’s country director for Canada, stated that they have been working on this for nearly three years, particularly with the Ontario Securities Commission over the past twelve months.
Cointelegraph reached out to Coinbase for a comment on the new license in Canada but did not receive a response at the time of publication.
As this is an ongoing development, further information will be provided as it becomes available.