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08/04/26 04:48 UTC-04

Coinbase has obtained a licence to trade crypto derivatives in Australia

The Australian Securities and Investments Commission has granted Coinbase Global’s subsidiary — Coinbase Australia — an Australian Financial Services Licence (AFSL) to provide financial services and retail trading in derivatives.

The AFSL licence allows the company to offer retail clients leveraged cryptocurrency products, as well as crypto and equity perpetual derivatives. It also requires Coinbase Australia to comply with disclosure, asset management, and consumer protection requirements applicable to licensed financial institutions in Australia.

John O'Loghlen, Managing Director of Coinbase in the Asia-Pacific region, stated that the company intends to compete with traditional financial institutions in the equities and foreign exchange trading segments.

The licence was obtained ahead of potential changes to corporate legislation related to the regulation of digital assets. If adopted, crypto exchanges will be required to obtain an AFSL to operate in Australia. According to O’Loghlen, the company secured the licence in advance to meet future requirements.

Coinbase has been operating in the Australian market since 2016. In 2022, the company registered its Coinbase Australia entity with the AUSTRAC. In addition, the exchange collaborates with the blockchain research centre at RMIT University and is a member of the Digital Economy Council of Australia.

Earlier, Australia’s Treasury proposed tightening liability for crypto exchanges and other virtual asset service providers (VASPs) operating without a licence.

See also: "Crypto Exchange Binance Adds Multiple Altcoins to Its Spot Liquidity Enhancement Program"

#Coinbase #Australia

Editor: Alyona Nabok
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