{"id":41867,"date":"2025-02-05T12:36:46","date_gmt":"2025-02-05T12:36:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41867"},"modified":"2025-02-05T12:36:46","modified_gmt":"2025-02-05T12:36:46","slug":"coinbase-becomes-uks-largest-vasp-binance-reworks-crypto-payments-framework-for-europe","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41867","title":{"rendered":"Coinbase Becomes UK\u2019s largest VASP, Binance Reworks Crypto Payments Framework For Europe"},"content":{"rendered":"

Coinbase and Kraken have obtained critical regulatory licenses to expand their operations in the UK and the European Union (EU), respectively.\u00a0<\/span><\/p>\n

On 3 February 2025, Coinbase announced obtaining a Virtual Asset Service Provider (VASP) registration in the UK.<\/p>\n

This particular milestone registration will make Coinbase \u201cthe largest registered digital assets player in the UK.\u201d<\/p>\n

VASPs are issued by the Financial Conduct Authority (FCA). In a post on X, the company insisted that the UK\u00a0 is its biggest international market. \u201cThis registration represents an important chapter in our international expansion strategy,\u201d acknowledged Coinbase.<\/p>\n

Coinbase is now the UK\u2019s largest VASP. <\/p>\n

The United Kingdom is our biggest international market, and this registration represents an important chapter in our international expansion strategy. pic.twitter.com\/QdjP4XCtWb<\/a><\/p>\n

\u2014 Coinbase (@coinbase) February 3, 2025<\/a><\/p>\n\n

\u00a0<\/p>\n

Just recently, Coinbase received an official approval from <\/span>Argentina\u2019s<\/span> National Securities Commission (CNV) to expand its services in the country.\u00a0<\/span>The newly secured VASP registration allows the exchange to introduce new offerings, including local payment methods in Argentine pesos. The company plans to strengthen its presence in the Latin American market.<\/span><\/p>\n

Having operated in Argentina since 2019, Coinbase initially offered crypto-to-crypto conversions and trading. However, with this regulatory green light, the exchange can now operate within the\u00a0<\/span>country\u2019s<\/span>\u00a0legal framework for virtual assets, enabling it to roll out a broader range of services.<\/span><\/p>\n

Explore: Coinbase Secures Regulatory Approval To Expand Services In Argentina<\/a><\/strong><\/p>\n

Binance Pay Partners With xMoney To Improve Crypto Payments Framework In Europe<\/strong><\/h2>\n

Binance Pay, the virtual currency payment platform powered by Binance, has partnered with xMoney. <\/span><\/p>\n

xMoney is also known as a Web3 transaction hub in Europe.\u00a0<\/span><\/p>\n

Notably, this collaboration aims to enhance cryptocurrency accessibility across the continent. According to the companies, the collaboration can bridge the gap between traditional finance and the rapidly evolving world of digital currencies.<\/span><\/p>\n

\u201cThe partnership simplifies payments for luxury goods, travel, gaming, and even public services for Binance Pay users, enabling over 20,000 businesses in the xMoney\u2019s merchant network to accept cryptocurrency directly,\u201d said Binance.\u00a0<\/span><\/p>\n

Commenting on the partnership, Jonathan Lim, Global Head of Binance Pay said, \u201cThis collaboration between Binance Pay and xMoney comes at a pivotal moment when cryptocurrency is being embraced in mainstream commerce and public services.\u201d<\/p>\n

While the company continues to make power moves, Binance came under fire as French investigators opened a formal probe into the company. The world\u2019s largest crypto exchange is facing charges over allegations of money laundering.<\/p>\n

However, this isn\u2019t the first time the company is under fire. It has faced scrutiny\u00a0for alleged non-compliance with local laws<\/p>\n

In 2021, Binance came under investigation in the US for potential violations of anti-money laundering (AML) regulations.<\/p>\n

Explore: Binance Under Scrutiny As France Starts Investigation For Fraud<\/a><\/strong><\/p>\n

After Coinbase, Kraken Announces Securing EU MiFID License<\/h2>\n

Similarly, on 3 February 2025, Kraken announced<\/a> securing the EU Markets in Financial Instruments Directive (MiFID) license.\u00a0<\/span><\/p>\n

\u201cThe license was obtained through the acquisition of a Cypriot Investment Firm, which was recently approved by the Cyprus Securities and Exchange Commission (CySEC),\u201d Kraken\u2019s announcement said.\u00a0<\/span><\/p>\n

Commenting on the development, Shannon Kurtas, Kraken Co-GM of Pro & Exchange said, \u201cAs we continue to expand our services across the globe, our focus on the European market remains a top priority.\u201d<\/span><\/p>\n

\u201cThis acquisition reflects our confidence in the EU and underscores our commitment to providing a trusted, regulated environment for advanced crypto traders and investors,\u201d said Kurtas.\u00a0<\/span><\/p>\n

Explore: Kraken Secures EU MiFID License \u2013 EU Derivatives On The Way: Best Crypto To Buy On Kraken?<\/a><\/strong><\/p>\n

\u00a0<\/p>\n

The post Coinbase Becomes UK\u2019s largest VASP, Binance Reworks Crypto Payments Framework For Europe<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Coinbase and Kraken have obtained critical regulatory licenses to expand their operations in the UK and the European Union (EU), respectively.\u00a0 On 3 February 2025, Coinbase announced obtaining a Virtual Asset Service Provider (VASP) registration in the UK. This particular milestone registration will make Coinbase \u201cthe largest registered digital assets player in the UK.\u201d VASPs […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41867","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41867"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41867"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41867\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}