Coinbase secures restricted dealer license in Canada

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Coinbase now has two entities in Canada: Coinbase Canada, with an international license, and Coinbase, registered as a restricted dealer.

Coinbase secures restricted dealer license in Canada

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The United States-based cryptocurrency exchange Coinbase has secured restricted dealer licenses in Canada, doubling down on global expansion amid regulatory crackdown at home.

Coinbase has obtained a new license in Canada, becoming registered in Ontario as a restricted dealer under the Canadian Securities Administrators (CSA), CNBC reported on April 4.

According to CSA’s national registration data, there are two Coinbase-related entities registered in Canada, including Coinbase Incorporated, which is registered as a restricted dealer. The other one, Coinbase Canada, is registered as an international dealer.

Coinbase Canada and Coinbase Inc national registration data. Source: CSA

According to CSA, restricted dealer registration is “a special kind of dealing registration used for firms that do not quite fit under any other category.” Regulators establish requirements for firms with this status individually.

International dealers are not allowed to trade with Canadian customers in equity or debt securities of Canadian issuers other than government issuers, according to legal intelligence source JD Supra.

This is a developing story, and further information will be added as it becomes available.

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