-
Canadian
regulators
have
granted
Coinbase
a
“restricted
dealer”
registration,
that
clears
a
path
for
the
exchange
to
operate
there. -
Coinbase
has
been
seeking
to
expand
in
Canada
since
last
year,
even
as
it
fights
U.S.
regulators
for
similar
considerations.
Coinbase’s
expansion
into
Canada
has
cleared
the
hurdle
of
a
“restricted
dealer”
registration,
the
company
said
on
Thursday,
making
it
the
biggest
registered
crypto
exchange
in
that
jurisdiction.
The
U.S.
exchange
had
been
seeking
this
status
from
the
Canadian
Securities
Administrators
since
the
country
set
up
new
crypto
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
U.S.
“This
is
a
significant
milestone
in
Coinbase’s
journey
in
Canada,”
said
Lucas
Matheson,
the
CEO
of
Coinbase
Canada,
in
a
statement.
He
said
the
exchange
will
keep
working
with
Canadian
partners
“to
accelerate
the
adoption
of
digital
assets,
foster
economic
empowerment,
and
reshape
the
financial
system.”
Coinbase
had
previously
hired
200
people
to
work
on
a
tailored
platform
for
Canada
–
its
second-largest
hub
globally
after
the
U.S.
–
and
established
a
payment
rails
system
with
Peoples
Trust.
“While
registered
as
a
restricted
dealer,
the
Filer
intends
to
apply
for
registration
as
an
investment
dealer,
and
to
seek
membership
with
the
Canadian
Investment
Regulatory
Organization
(CIRO,
formerly
IIROC)
and
registration
as
an
alternative
trading
system
(ATS),”
according
to
the
approval
dated
April
3,
making
Coinbase
the
tenth
firm
to
receive
the
designation.
In
the
U.S.,
Coinbase
has
been
battling
with
the
Securities
and
Exchange
Commission
(SEC)
over
claims
that
it’s
operating
illegally
and
offering
unregistered
securities
to
investors.
Coinbase
has
contended
in
federal
court
that
the
SEC
is
asking
for
the
impossible
because
U.S.
securities
laws
as-written
don’t
allow
for
crypto
firms
to
do
business.