MILAN. Coinbase, a global cryptocurrency exchange platform, has announced that its German subsidiary (Coinbase Germany GmbH) has obtained authorization for the trading and safekeeping of cryptocurrencies from the German regulatory authority, the Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”) . The license is part of the new cryptocurrency custody regime implemented in January 2020, the first of its kind in Europe. Coinbase is the first company in Germany to have obtained this authorization.
The license lays the groundwork for the launch of Coinbase Germany in the near future and, with all services provided by Coinbase Germany supervised and protected by the local regulator, it provides a clear regulatory framework that allows you to grow your range of services offered to German customers. The German subsidiary, explains the official press release, will be able to count on Coinbase’s first-rate infrastructure while providing a localized service and an increased range of products, under the supervision of “BaFin”, an important European supervisory authority.