Coinbase Obtains FCA Approval to Revolutionize UK Crypto Market

• Coinbase gains FCA approval to offer crypto and fiat products in the UK.
• The UK sees increased crypto adoption as Coinbase pushes for growth.
• Coinbase expands to Argentina, tapping into Latin America’s crypto market.

Coinbase continues to build its global presence with a significant milestone. The exchange has secured VASP registration with the UK’s FCA, enabling the company to offer both crypto and fiat products directly within the market.

Coinbase Secures VASP Registration with UK FCA

Coinbase has secured registration as a Virtual Asset Service Provider (VASP) from the UK’s Financial Conduct Authority (FCA). This move allows the exchange to expand its services in the UK market which is part of its international strategy. The company can now offer both crypto and fiat products to retail and institutional investors under FCA regulations.

This VASP registration allows the company to operate as a compliant crypto asset provider in the UK. The company is positioning itself to take advantage of a stable regulatory environment as the UK pushes forward with crypto policies. VASP registration illustrates the alignment between regulators and industry players in balancing innovation and consumer protection.

Keith Grose, Coinbase’s UK CEO, emphasized the company’s commitment to increase crypto adoption. He stated that this registration strengthens the company’s presence in the UK and supports its mission to onboard the next billion people into crypto. Grose also emphasized on the company’s focus on security, compliance, and economic freedom through cryptocurrencies.

The VASP approval comes after major developments in the crypto sector. Bitcoin reached all-time highs in 2024, and more people in the UK have invested in digital assets. The percentage of UK adults holding crypto grew from 10% to 12% which reflects increased mainstream adoption.

Coinbase Expansion in Latin America

Coinbase’s growth in international markets continues with the recent approval in Argentina. Argentina’s National Securities Commission approved the company’s registration to offer crypto services to approximately 5 million users. The company launched in Brazil in 2023 which reflects the growing crypto adoption in Latin America.

Coinbase’s expansion into Argentina further emphasizes the region’s importance in the global crypto landscape. Latin America ranks fifth in the world for crypto adoption, driven by countries like Venezuela and Argentina. The region has witnessed increased crypto activity, especially in countries facing inflation, which positions it as a major market for digital assets.

Regulatory Compliance

The company’s registration allows it to bypass third-party approval and communicate directly with the FCA. This enables the company to engage in regulatory discussions such as new rules for staking and stablecoins.

Coinbase has worked to improve its compliance measures despite scrutiny from the FCA in 2024 for onboarding high-risk customers. The company paid a fine of £3.5 million and committed to improve its compliance protocols.