Coinbase Registered in France
Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced on Thursday that it has obtained a virtual asset service provider (VASP) registration in France. The company shared the news on the social media platform X, stating, "Bonjour la France. We've received approval in France as a registered VASP. This is an important market for us and represents another chapter in our Go Deep, Go Broad international strategy."
Expanding Strategy
Coinbase announced its strategy to "go broad and go deep" in February last year as part of its global expansion efforts. The company explained that "go broad" involves launching foundational products that act as gateways to Web3 and crypto in every country, while "go deep" focuses on launching localized infrastructure and public-facing products with a full suite of services.
Approval from French Regulator
Coinbase has now achieved a significant milestone in its international expansion by receiving PSAN (VASP) approval from the French regulator, the Autorité des Marchés Financiers (AMF). This registration allows Coinbase to operate in France, furthering its plans to grow across Europe.
Services Offered in France
The VASP status allows Coinbase to offer retail and institutional investors in France a range of services. These include custody of digital assets, buying and selling digital assets with legal tender, and trading digital assets against other digital assets.
Increasing Demand in France
A recent survey by Toluna revealed that 10% of French adults currently own cryptocurrencies, with 24% planning to buy, sell, and/or trade crypto in the next 12 months. Coinbase highlighted the growing demand, stating, "Demand is increasing. And why wouldn't it? Some 60% of French adults believe that the global financial system unfairly favors powerful interests."
Commitment to Regulatory Compliance
Coinbase emphasized its dedication to partnering with high-bar regulators across jurisdictions to help update the financial system. The company expressed its commitment to France as an important market, stating, "We are dedicated to partnering with high-bar regulators across jurisdictions to help update the financial system, and France is no different."
Focus on European Markets
Coinbase has recently shown its commitment to the European markets by choosing Ireland as its MiCA entity location. The company praised the regulatory clarity provided by MiCA and acknowledged the recognition of the potential that emerging technology can provide. The adoption of MiCA by European Union policymakers represents a pivotal moment for cryptocurrencies in the region.
What are your thoughts on Coinbase's expansion in Europe and its approval to operate in France? Let us know in the comments below.
Frequently Asked Questions
How much should your IRA include precious metals
The most important thing you should know when investing in precious metals is that they are not just for wealthy people. You don’t need to have a lot of money to invest. You can actually make money without spending a lot on gold or silver investments.
You could also consider buying physical coins like bullion bars, rounds or bullion bars. Also, you could buy shares in companies producing precious metals. Another option is to make use of the IRA rollover programs offered by your retirement plan provider.
You'll still get the benefit of precious metals no matter which country you live in. They offer the potential for long-term, sustainable growth even though they aren’t stocks.
They also tend to appreciate over time, unlike traditional investments. If you decide to sell your investment, you will likely make more than with traditional investments.
Is physical gold allowed in an IRA.
Gold is money, not just paper currency or coinage. People have been using gold for thousands of years to store their wealth and protect it from economic instability and inflation. Today, investors invest in gold as part a diversified portfolio. This is because gold tends do better in financial turmoil.
Today, Americans prefer precious metals like silver and gold to stocks and bonds. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.
One reason is that gold has historically performed better than other assets during periods of financial panic. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. Gold was one asset that outperformed stocks in turbulent market conditions.
Another benefit to investing in gold? It has virtually zero counterparty exposure. Your shares will still be yours even if your stock portfolio drops. You can still own your gold even if the company where you invested fails to pay its debt.
Finally, gold provides liquidity. This means that, unlike most other investments, you can sell your gold anytime without worrying about finding another buyer. You can buy gold in small amounts because it is so liquid. This allows you take advantage of the short-term fluctuations that occur in the gold markets.
How much gold should you have in your portfolio?
The amount of capital that you require will determine how much money you can make. Start small with $5k-10k. As you grow, you can move into an office and rent out desks. So you don't have all the hassle of paying rent. You only pay one month.
It's also important to determine what type business you'll run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. This is why you should consider what you expect from each client if you're doing this kind of thing.
As freelance work requires you to be paid freelancers, your monthly salary won't be as high as mine. You may get paid just once every 6 months.
Decide what kind of income do you want before you calculate how much gold is needed.
I recommend starting with $1k-$2k in gold and working my way up.
What are the advantages of a IRA with a gold component?
Many benefits come with a gold IRA. It is an investment vehicle that can diversify your portfolio. You can control how much money is deposited into each account as well as when it's withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. This makes for an easy transition if you decide to retire early.
The best part about gold IRAs? You don't have to be an expert. They're available at most banks and brokerage firms. Withdrawals can be made instantly without the need to pay fees or penalties.
But there are downsides. Gold is known for being volatile in the past. Understanding why you want to invest in gold is essential. Are you seeking safety or growth? Are you looking for growth or insurance? Only by knowing the answer, you will be able to make an informed choice.
If you want to keep your gold IRA open for life, you might consider purchasing more than one ounce. One ounce won't be enough to meet all your needs. Depending upon what you plan to do, you could need several ounces.
You don't need to have a lot of gold if you are selling it. Even one ounce is enough. You won't be capable of buying anything else with these funds.
Statistics
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Want to Keep Gold in Your IRA at Home? It's not legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement account
cftc.gov
bbb.org
How To
Tips for Investing In Gold
Investing in Gold is one of the most popular investment strategies worldwide. Because investing in gold has many benefits. There are many ways to invest gold. Some people choose to purchase gold coins physically, while some prefer to invest with gold ETFs.
Before you buy any type of gold, there are some things that you should think about.
- First, make sure you check if your country allows you own gold. If the answer is yes, you can go ahead. You can also look at buying gold abroad.
- Secondly, you should know what kind of gold coin you want. There are many options for gold coins: yellow, white, and rose.
- Thirdly, you should take into consideration the price of gold. Start small and move up. One thing that you should never forget when purchasing gold is to diversify your portfolio. Diversifying your portfolio includes stocks, bonds, mutual funds, real estate, commodities, and mutual funds.
- Last but not least, remember that gold prices fluctuate frequently. Keep an eye on current trends.
—————————————————————————————————————————————————————————————-
By: Kevin Helms
Title: Coinbase Receives Approval as Registered Virtual Asset Service Provider in France
Sourced From: news.bitcoin.com/coinbase-expands-european-footprint-with-approval-to-operate-in-france/
Published Date: Sat, 23 Dec 2023 07:30:29 +0000
