Coinbase Secures UK Approval, Strengthening Global Crypto Presence

Coinbase has achieved a major regulatory milestone by securing approval to operate in the United Kingdom. The cryptocurrency exchange has officially obtained a Virtual Asset Service Provider (VASP) registration from the UK’s Financial Conduct Authority (FCA), solidifying its position as a key player in the region’s digital asset market.

The FCA has maintained strict oversight in granting VASP registrations, approving only 145 applicants—a list that now includes Coinbase. With this approval, the exchange is authorized to offer cryptocurrency services alongside fiat transactions to UK investors.

Coinbase’s latest expansion follows a series of regulatory green lights worldwide. Just two weeks ago, the exchange secured approval to launch crypto services in Argentina, and it recently reintroduced Bitcoin-backed loans for U.S. customers. Now, with the UK registration, Coinbase continues to expand its global footprint in traditionally challenging regulatory environments.

“Our mission is to onboard the next 1 billion people into crypto while prioritizing security for customer assets,” Coinbase stated. “Achieving our VASP in the UK further supports this goal.”

The approval highlights the increasing global acceptance of cryptocurrency markets, with regulatory frameworks evolving to accommodate digital assets. As 2024 unfolds, Coinbase’s latest move underscores a broader shift in favor of crypto adoption worldwide.