(Toronto) Canadian regulators have authorized cryptocurrency exchange Coinbase to operate in the country as a restricted broker.
Coinbase says this means it is the first and largest international cryptocurrency exchange to be registered in Canada.
The recording, which makes it the 15the to achieve this status, follows Coinbase signing pre-registration commitments in March 2023, and its official launch in Canada last August.
Coinbase praised regulators for their structured process which helps build confidence in the market, unlike Binance which left Canada last year citing the regulatory approach.
The registration comes amid renewed interest in cryptocurrencies, after US regulators approved the first bitcoin-based exchange-traded funds in January.
The simplified method of investing in cryptocurrencies contributed to the influx of capital and helped bitcoin reach an all-time high of more than US$73,000 in March, up from around US$25,000 in September.