tl;dr
Coinbase Global (NASDAQ:COIN) has obtained a restricted dealer license in Canada, according to a Thursday media report, enabling the U.S.-based cryptocurrency exchange to operate legally in the country. The Brian Armstrong-led company, which is facing a regulatory crackdown in the U.S., has been re...
Coinbase Global (NASDAQ:COIN) has obtained a restricted dealer license in Canada, according to a Thursday media report, enabling the U.S.-based cryptocurrency exchange to operate legally in the country. The Brian Armstrong-led company, which is facing a regulatory crackdown in the U.S., has been registered in Ontario as a restricted dealer under the Canadian Securities Administrators ("CSA"). Compared with the U.S., Canada's regulatory clarity is far better for crypto firms, one of the main reasons why Coinbase (COIN) considered last year relocating outside the U.S. Last year, for instance, Canada laid out new guidelines for crypto exchanges that put a cap on how much certain investors can invest in crypto. Coinbase (COIN) had filed its pre-registration undertaking with the Ontario Securities Commission in March 2023, the article said, and subsequently opened up shop in the country in August. The crypto and exchange has been in a legal battle with the U.S. Securities and Exchange Commission for a nearly a year, with both parties suing one another. In the latest development, a U.S. judge ruled that the SEC's lawsuit against the Coinbase (COIN) can move forward. "We currently believe that this case will be a long legal battle and will likely go to the Supreme Court to get the final decision," Oppenheimer analyst Owen Lau wrote in a note to clients.
More about Coinbase Global Inc
Company: Coinbase Global Inc
Description: Coinbase Global, Inc. provides financial infrastructure and technology for the crypto economy. The company is headquartered in Wilmington, Delaware.
Sector: Finance, Finance Services
Market Cap: 60951548000
Current Price: 698.83
Dividend Yield: None
P/E Ratio: 0.36
EPS: 12.41
ROE: 0.0324
Volume: 2926556000
52-Week High: 88.29
52-Week Low: 3.27
Beta: 0.494
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