Coinbase Says Canadian License Makes It Country's Biggest Registered Crypto Exchange

Coinbase's expansion into Canada has cleared the hurdle of a "restricted dealer" registration, the company announced on Thursday, making it the largest registered cryptocurrency exchange in that jurisdiction.

The US exchange had been seeking this status from the Canadian Securities Administrators since the country introduced new cryptocurrency policies last year, and the new registration signed by the Ontario Securities Commission (OSC) sets Coinbase on a path of government-approved operation that has so far eluded it in the US.

"This is a significant milestone in Coinbase's journey in Canada," said Lucas Matheson, CEO of Coinbase Canada, in a statement. He said the exchange will continue to work with Canadian partners "to accelerate the adoption of digital assets, foster economic empowerment, and reshape the financial system."