Coinbase, one of the world’s largest crypto exchanges, recently announced that it has obtained a license from the Bermuda Monetary Authority (BMA). This decision will allow Coinbase to offer a full range of services to customers in Bermuda.
The BMA is known for its stringent regulatory standards, and obtaining a license from the organization is considered a significant achievement in the crypto world. Coinbase is now one of the few crypto companies to hold a license from the BMA.
This license will allow Coinbase to offer its customers a variety of crypto services, including the ability to buy, sell and trade cryptos. In addition, Coinbase will be able to offer custody services, allowing customers to safely store their digital assets with the exchange.
Coinbase is a respected player in the crypto industry, and its decision to obtain a license from the BMA is a sign of the company’s commitment to operating within a regulated framework. The decision should also be welcomed by investors, who are increasingly looking for reputable crypto-currency companies that operate within a clear regulatory framework.
In addition to its Bermuda license, Coinbase is also licensed in the United States and Europe, further strengthening its position as a leader in the crypto industry.
Bermuda was one of the first financial centers to adopt comprehensive digital asset regulation in 2018, and its regulatory environment has long been known for its high level of rigor, transparency, compliance and cooperation. Bermuda was chosen as one of our international hubs because the BMA is a highly respected and experienced financial regulator,” the Coinbase blog post reads.
Overall, Coinbase obtaining a crypto license in Bermuda is a positive development for the company and for the crypto-industry as a whole. It shows that regulators are becoming more open to working with crypto companies, and that reputable crypto companies are taking steps to operate within a regulated framework.