The French financial markets authority (AMF) has officially granted Coinbase its registration as a Digital Asset Service Provider (DASP), marking another milestone for the crypto exchange in Europe. This follows similar approvals for OKX and Gemini, reinforcing France's position as a growing hub for crypto innovation.
Four New Firms Approved as DASPs
In a year-end regulatory update, the AMF added Coinbase and two French companies—Genezys SAS and DFNS Custody SAS—to its list of registered DASPs on December 21.
Key Details:
Coinbase's Dual Registration:
- Coinbase Custody International Limited (Ireland): Focuses on digital asset custody.
- Coinbase Europe Limited (Ireland): Covers trading services, including fiat-to-crypto and crypto-to-crypto exchanges.
- Competitive Landscape: The approval allows Coinbase to compete directly with rivals like Binance and OKX in France, where ~10% of the population owns crypto assets (AMF survey).
👉 Explore how Coinbase compares to other exchanges
France: A Strategic Gateway to Europe
France's pro-crypto regulatory environment and status as a Web3 hub make it an ideal launchpad for EU expansion. While Coinbase already operates in Ireland, its PSAN registration underscores efforts to stay competitive in localized markets.
Regulatory Highlights:
- Only Société Générale’s FORGE holds the stricter PSAN agrément (approved July 2023).
- The upcoming MiCA regulation (effective late 2024) will unify crypto frameworks across the EU.
FAQ Section
Q: What does PSAN registration mean for Coinbase users in France?
A: It ensures compliance with local laws, enabling legal crypto trading and custody services for French residents.
Q: How does MiCA impact existing PSAN registrations?
A: MiCA will replace national frameworks like PSAN with EU-wide licensing, requiring firms to adapt by 2024.
Q: Which other major exchanges are registered in France?
A: Binance, OKX, Gemini, and Crypto.com have also secured PSAN status.
Future Outlook
With MiCA on the horizon, expect more crypto firms to pursue EU registrations. France’s progressive stance positions it as a leader in blockchain adoption, attracting global players like Coinbase.
👉 Learn about upcoming crypto regulations in Europe
Sources: AMF, CryptoNews France