Coinbase has obtained a cryptocurrency license in France.

According to BlockBeats news on December 21st, CNBC reported that cryptocurrency trading platform Coinbase has successfully registered with French market regulators, and a company spokesperson confirmed the news on Thursday. This paves the way for the company to expand its services in another key European market. The French Financial Markets Authority (AMF) granted approval to Coinbase as a virtual asset service provider (VASP), which effectively gives the company the green light to operate digital currency services in France. The VASP registration will allow Coinbase to provide custody of digital assets, purchase or sell digital assets with fiat currency, trade digital assets, and operate digital asset trading platforms. The company stated in a statement on Tuesday that regulatory authorities in France and other European countries have been working hard to keep up with the development of emerging technologies such as cryptography and blockchain, while seeking a balance between improving the potential of payment systems and transactions and ensuring consumer protection. The European Union has been working to introduce its Markets in Crypto-Assets (MiCA) regulations, which will create a coordinated framework for regulated operation of cryptocurrency companies within the group's countries. According to MiCA, cryptocurrency companies will no longer need to be registered in every EU market, but can use a VASP license from one country and "passport-style" provide their services in other countries.