Coinbase and Kraken have obtained important regulatory licenses to expand their business in the UK and European Union (EU).
On February 3, 2025, Coinbase announced that it would acquire a virtual asset service provider (Vasp) registration in the UK.
With this specific milestone registration, Coinbase is the “largest registered digital asset player in the UK”.
Vasp is issued by the Financial Action Bureau (FCA). In X's post, the company claimed that the UK is the largest international market. “This registration represents an important chapter of the international expansion strategy,” coinbase acknowledged.
The coin base is now the largest VASP in the UK.
The UK is our largest international market, and this registration is an important chapter of international expansion strategy. pic.twitter.com/qdjp4XCTWB
-Pros
(@Coinbase) February 3, 2025
Just recently, Coinbase was officially approved Argentine The National Securities Committee (CNV) to expand domestic services. With the newly protected Vasp registration, you can replace new products, including the local payment method of Argentine Pesos. The company plans to strengthen its existence in the Latin American market.
Coinbase, which has been operated in Argentina since 2019, first provided conversion and transactions between cryptography. However, due to the green light of this regulation, the replacement can be operated. National The legal framework of virtual assets will be able to develop a wider range of services.
Search: Coinbase ensures the approval of regulatory authorities to expand Argentina services
Binance Pay Partner with XMoney to improve European encrypted payment framework
Binance pay, equipped with Binance Paying Binance, is affiliated with XMoney.
XMoney is also known as a European web3 transaction hub.
In particular, this collaboration aims to strengthen the accessibility of cryptocurrency throughout the continent. According to companies, this collaboration can fill the gap between conventional financial and digital currency rapidly evolving world.
“The partnership has simplified the payment of public services for luxury goods, travel, games, and even Binance Pay users, and more than 20,000 companies of XMoney's Merchant Network can now accept cryptocurrency.” Binance said.
According to a partnership, Jonathan Lim, a global head of Binance Pay, said, “This collaboration between Binance Pay and Xmoney is an extremely important moment when cryptocurrencies are accepted by commercial and public services. Come, “he said.
The company continues to move on power, but Binance launched because a French investigator had a formal investigation to the company. The world's largest encryption exchange faces accusing money laundering claims.
However, this is not the first to fire the company. It faces a scrutiny of suspicion of violating local law
In 2021, Binance was investigated in the United States for potential violations of the restrictions on money laundering (AML).
Search: When France starts a fraud survey, Vinnance under scrutiny
After Coinbase, Kraken will announce the protection of the EU MIFID license.
Similarly, on February 3, 2025, Kraken announced the protection of the Financial Instruments Directive (MIFID) license EU market.
“This license was acquired by the acquisition of a recently approved Cyprus Investment Company by the Cyprus Securities and Exchange Commission (Cysec),” Kraken said.
Shannonon Kurtas, PRO & Exchange's Kraken Co-GM, commented on development and stated that “as the service continues to expand around the world, the focus on the European market remains the top priority.”
“This acquisition reflects our trust in the EU and emphasizes our commitment to provide advanced cryptographic traders and investors a restricted environment,” says Kurtas. I am.
Search: Kraken secures EU MIFID license -EU derivative on the way: The best encryption for purchasing at Kraken?
The postcoin base has become the largest Vasp in the UK, and Binance re -processed the European Crypto Payments Framework and first appeared in 99 Bitcoins.
