Coinbase Products In Canada Is Now Actively Promoted

Key Points:

• Coinbase products in Canada is being pushed to expand.
• Engaging with regulators, it aims to navigate the Canadian regulatory landscape.
• Joining the Web3 Council and adding the UK’s ex-chancellor to its advisory, Coinbase concentrates its commitment to fostering crypto growth in Canada.

According to CoinDesk, Coinbase is making bold strides into the Canadian market, signaling its commitment to growth and innovation.

Read more: Coinbase Stock Short Sellers Lost More Than $4.2 Billion In 2023

Coinbase Products in Canada To Meet Investor Needs

The company’s ambitious move involves introducing a range of Coinbase products in Canada, including perpetual futures contracts and derivatives, to provide investors with new avenues for hedging and speculation within the volatile crypto market.

To navigate Canada‘s regulatory landscape, Coinbase is actively engaging with key regulatory bodies such as the Ontario Securities Commission (OSC). This includes applying for its ‘restricted dealer registration,’ a new guideline mandating trading platforms to register with the Canadian government.

The company aims to initiate public dialogue with regulators to update policies and facilitate its expansion plans.

Coinbase Joins Web3 Council, Welcomes Former UK Chancellor

Furthermore, Coinbase has joined the Canadian Web3 Council, a non-profit organization focused on amending legislative measures to support the growth of Coinbase products in Canada. This strategic move underscores Coinbase’s dedication to fostering a favorable regulatory environment for the crypto economy in the country.

In addition, Coinbase has strengthened its advisory council by adding the former UK chancellor, known for his interest in financial technology and innovation. This addition is expected to provide valuable expertise in navigating regulatory complexities and building relationships with government bodies, crucial for Coinbase products in Canada and globally.

This strategic push into Canada comes at a time when several other exchanges have faced challenges or withdrawn operations due to regulatory changes. By proactively engaging with regulators and leveraging experienced advisors, Coinbase aims to establish a strong foothold in the Canadian market while driving innovation and growth in the cryptocurrency sector.