Summary
- Coinbase said it has obtained an Australian Financial Services Licence (AFSL), allowing it to provide services in Australia within a regulated framework.
- Coinbase said the license will allow it to offer Australian users cryptocurrency and stock perpetual contracts and later expand into futures and options trading.
- Coinbase also said it received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish a trust bank, which would help strengthen its custody services for institutional investors if it wins final approval.
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Coinbase, the U.S. cryptocurrency exchange, has obtained a regulatory license in Australia.
The company said on its website July 7 that it had secured an Australian Financial Services Licence, or AFSL. The license will allow Coinbase to offer Australian users cryptocurrency and stock perpetual contracts, with plans to expand into futures and options trading.
Australia last year amended its corporations law to require cryptocurrency exchanges to hold licenses. Coinbase's Australian operation is overseen by Chief Operating Officer Adam Judd, a former official at the Australian Securities and Investments Commission.
Australia is an important market for Coinbase, the company said, adding that it plans to work with local authorities to help build a regulatory environment that positions the country as a leader in the global digital economy.
Separately, Coinbase recently received conditional approval from the U.S. Office of the Comptroller of the Currency to establish a trust bank. If it receives final approval, the company will be able to provide more stable custody services for institutional investors.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
