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SAN FRANCISCO – Coinbase (NASDAQ:), a major cryptocurrency exchange, has announced plans to expand its services into the European Union’s derivatives market. The company is set to acquire a Cyprus-based entity that holds a MiFID II license, a move that is anticipated to be completed within 2024. This strategic acquisition is poised to enable Coinbase to offer regulated futures and options trading to its customer base, marking a significant step in its European expansion efforts.

Coinbase’s foray into the EU derivatives market underscores its commitment to compliance and regulatory standards. The company has emphasized its focus on adhering to strict anti-money laundering (AML) and Know Your Customer (KYC) protocols, which are crucial for operating within the EU’s financial markets.

In addition to the planned acquisition, Coinbase is actively working to further cement its regulatory footprint in Europe. The company is seeking to secure a Markets in Crypto-Assets (MiCA) license by the end of 2024, which would bolster its capabilities and services in the region. Coinbase already possesses a French virtual asset service provider license, demonstrating its proactive approach to meeting regulatory requirements across the continent.

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