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Coinbase has <a rel="noopener noreferrer nofollow" href="https://www.coinbase.com/blog/exploring-licensing-to-expand-trusted-compliant-access-to-derivatives-in-the">announced</a> plans to acquire a MiFID-licensed entity in Cyprus, marking a strategic move to broaden its derivatives offerings across the European Union. This endeavor, pending regulatory approval, aims to enhance Coinbase’s market presence in 2024 significantly.
<h2 id="coinbase-expansion-into-the-eu-derivatives-market">Coinbase Expansion into the EU Derivatives Market</h2>
The <a href="https://coingape.com/coinbase-expands-in-europe-with-french-vasp-license/" rel="noopener noreferrer nofollow">initiative</a> to acquire a Markets in Financial Instruments Directive (MiFID) licensed entity aligns with Coinbase’s strategic vision of expanding its product offerings. MiFID, a cornerstone of the EU’s regulatory framework, ensures a harmonized trading environment across the member states.&nbsp;
By integrating this license into its portfolio, the company will be able to offer cryptocurrency-based derivatives to its European clientele, which is currently limited to spot trading within the EU.
<h2 id="adherence-to-rigorous-compliance-standards">Adherence to Rigorous Compliance Standards</h2>
Coinbase has emphasized its <a href="https://coingape.com/coinbase-adapts-to-uk-regulations-with-new-user-risk-form/" rel="noopener noreferrer nofollow">commitment</a> to regulatory compliance and trust. Consequently, the acquisition process involves obtaining the license and ensuring that the entity adheres to Coinbase’s Five-point Global Compliance Standard.&nbsp;
This comprehensive framework encompasses stringent Anti-Money Laundering (AML) and Know-Your-Customer (KYC) standards, global sanctions enforcement, and robust governance practices. The aim is to set a high compliance and operational integrity benchmark in the rapidly evolving cryptocurrency market.
<h2 id="navigating-regulatory-pathways">Navigating Regulatory Pathways</h2>
The path to actualizing this acquisition is extensive, with Coinbase needing to navigate through various regulatory approvals. However, the company remains <a href="https://coingape.com/coinbase-ceo-its-time-to-turn-the-page-after-binance-settlement/" rel="noopener noreferrer nofollow">optimistic</a> about this significant step in its growth strategy. By entering the derivatives market, which accounts for a substantial portion of the global crypto market, Coinbase is poised to tap into a new customer base and strengthen its market position.
Read Also: <a href="https://coingape.com/breaking-dcg-clears-over-1-billion-in-debt-to-creditors-including-genesis/?utm_source=cgtelegram" rel="noopener noreferrer nofollow">DCG Clears Over $1 Billion in Debt to Creditors, Including Genesis</a>
The post <a href="https://coingape.com/coinbase-expands-eu-footprint-with-mifid-license/" rel="noopener noreferrer nofollow">Coinbase Expands EU Footprint with MiFID License</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Coinbase Expands EU Footprint with MiFID License

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