- Coinbase has secured registration as a Virtual Asset Service Provider in the United Kingdom
- This registration, issued by the Financial Conduct Authority, enables Coinbase to offer both cryptocurrency and fiat services in the UK
- The move aligns with Coinbase’s strategy to expand its presence in key international markets
Coinbase has announced its successful registration as a Virtual Asset Service Provider (VASP) in the United Kingdom, granted by the Financial Conduct Authority (FCA). This accreditation permits Coinbase to provide a comprehensive suite of cryptocurrency and fiat currency services to UK customers. The registration underscores Coinbase’s commitment to strengthening its foothold in significant international markets.
Enhancing UK Market Presence
Coinbase announced its successful registration on Monday, noting that the award will “allow Coinbase to offer a better suite of retail, institutional, and ecosystem products and services to users across the UK as the largest registered VASP.”
We have obtained a Virtual Asset Service Provider (VASP) registration in the UK issued by the Financial Conduct Authority (FCA).
This VASP registration makes Coinbase the largest registered digital assets player in the UK.
— Coinbase 🛡️ (@coinbase) February 3, 2025
The company called the development a “critical registration to cement our strong position in the UK and unlock our ambitious expansion plans,” which include onboarding 1 billion people into the crypto space, adding that it “represents an important chapter in the company’s international expansion strategy.”
With the FCA’s VASP registration, Coinbase is now authorized to operate fully within the UK’s regulatory framework, offering services that bridge both digital and traditional financial systems.
Coinbase Joins the Big Boys
The United Kingdom introduced the VASP registration requirement in January 2020 as part of its efforts to regulate the cryptocurrency industry under the Money Laundering, Terrorist Financing, and Transfer of Funds Regulations 2017. The FCA was tasked with overseeing compliance, ensuring that crypto firms met stringent anti-money laundering and counter-terrorist financing obligations. Any company seeking to operate crypto-related services in the UK has to either secure FCA registration or cease operations.
Many recognizable crypto firms, such as Gemini, Fidelity Digital Assets, and Payward (owner of Kraken), are already on the register, meaning Coinbase is finally keeping pace with its competitors.